Syracuse to pay $7.5 million to leave Big East in '13
The Big East announced Monday that an agreement has been reached with Syracuse, allowing the Orange to leave to join the ACC on July 1, 2013, with a payment of $7.5 million in exchange for the early exit.
The conference has stood firm on its exit requirement of 27 months' notice for Syracuse and Pittsburgh, and it's reasonable to now think Pittsburgh knows the dollar figure to negotiate a similar exit rather than waiting until summer 2014 to change leagues.
"This closes a chapter and opens a new one filled with exciting possibilities for the Big East's future," interim commissioner Joe Bailey said in a statement. "With the recent addition of eight schools to the Big East, the future for the conference has never been brighter."
The Big East can negotiate these early exits now that the league has a new lineup in place for 2013-14, with six more schools joining in football, four in all sports: Boise State and San Diego State are the football-only additions, along with Conference USA's UCF, Houston, SMU and Memphis. Temple, already on board for football this fall, will join in all sports in 2013-14, and Navy will join in football in 2015.
Those six football schools will join the carryovers from this year's Big East: USF, Cincinnati, Louisville, Rutgers, Connecticut and Temple. West Virginia left the league this summer to join the Big 12.