Big East, Syracuse reach agreement on exit
Monday, July 16, 2012
We've known for awhile that Syracuse, a founding member of the Big East Conference, would be departing for what the school believes are greener pastures in the Atlantic Coast Conference.
Now we know when they'll make their exit, stage left.
The Big East Conference and Syracuse University Monday announced that both organizations have reached an agreement on Syracuse’s departure from the Big East and move to the Atlantic Coast Conference. Under the terms of the agreement reached between the Big East and Syracuse, the Big East members will vote, in accordance with the Big East’s bylaws, to terminate Syracuse’s membership in the Big East effective July 1, 2013, at which point Syracuse will join the ACC. In addition to other consideration, Syracuse will make a total cash payment to the Big East of $7.5 million.
“This closes a chapter and opens a new one filled with exciting possibilities for the Big East’s future. With the recent addition of eight schools to the Big East, the future for the Conference has never been brighter,” said Joe Bailey, Big East Interim Commissioner.
Dr. Daryl Gross, Director of Athletics for Syracuse University, said: “We look forward to the new academic and athletic partnerships and the extraordinary competitive opportunities that membership in the ACC offers. We are excited about both our final season in the Big East and our long-term future with the ACC.”
Still to be determined is the departure date of the University of Pittsburgh. The Panthers have also decided to depart from the Big East to enter the ACC, but do not yet have an official withdrawal date. Pittsburgh filed a complaint in the Court of Common Pleas of Allegheny County in May, claiming the Big East waived its right to enforce an original 27-month withdrawal notice and the Panthers should be allowed move to the ACC without further penalty by the 2013-14 conference year.
Pitt and Syracuse announced last September they were jumping to the ACC. Pitt paid half of its $5 million exit fee at the time of the announcement and agreed to remain in the conference until July 1, 2014.