I thought the only rush might have been the CAA teams trying to announce a departure before the CAA exit fee increased form $250,000 to $1,000,000 (proposed). Perhaps Yeager doesn't have the votes to enact that, so GMU and VCU are sitting back and calculating how to maximize:
NCAA BB credits
- CAA exit fee
- A10 entrance fee
I think they need to make the moves official by June 30th, if they plan to partipate in the A10 starting July 1, 2013.
So May 1 is no real deadline, but June 30th is....
Perhaps, but none of that might matter....
B. Upon the notice of withdrawal, the remaining Association members retain the right to determine the effective date of the institution’s membership withdrawal and the rights and privileges of membership that will be extended prior to the effective date of the institution’s withdrawal. All membership changes become effective on June 30. [Adopted: June 28, 2000]
C. Any member that elects to withdraw from the Association will be assessed a financial penalty of $250,000 and forfeits its share of the accrued assets of the Association. The purpose of such payment requirement is to reflect possible financial damages to the Association and to each of its remaining member institutions. This section shall in no way be construed as limiting the monetary damages or remedies to which the Association or its remaining members may be entitled at law or equity. [Adopted: May 19, 1994; Revised: Jan. 12, 1997; June 28, 2000]
D. A member institution that elects to withdraw its membership in the Association shall forfeit its share of revenue distributed by the Association effective upon its withdrawal announcement. The institution shall be subject to all applicable dues and fees paid by member institutions prior to the effective date of its membership withdrawal. [Adopted: June 28, 2000]
E. Upon notice of an institution’s intent to withdraw, the institution’s teams become ineligible on a date determined by the remaining members to compete for Association team championships. Individual student-athletes may compete for individual honors in Association individual championships but team points will not be calculated. [Adopted: June 28, 2000]
H. The penalties and conditions identified above may be waived by a three-fourths affirmative vote of the non-withdrawing members eligible to vote under Constitution 4.03. [Adopted: June 28, 2000]
It doesn't matter for Mason. They're basically done with their "excellence pool" paychecks (See below). They're just getting their even CAA share now.
For VCU, it's basically "after we get the the last check that comes before June 30th" ?
The conference’s collective members shall “own” six NCAA men’s basketball pool units equating to the conference’s automatic qualifier unit in the six-year NCAA basketball pool. Incremental basketball units beyond the conference’s six units shall be distributed as follows: [Note: All distributions refer to earned units in that year’s basketball pool, i.e. one year after performance.]
1. 40% of the total value of that year’s basketball units (beyond the six AQ units) shall be allocated to create an “excellence pool” in which institutions earn annual shares. [See below]
2. From the remaining 60%, each institution should, at the minimum, receive a distribution equal to their payment of annual dues to be a member of the conference. These incremental new funds are to be dedicated to budget relief, budget enhancement or new initiatives within the institution’s basketball programs.
3. Any remaining funds shall be available for allocation in the regular conference budget, including an additional distribution.
B. The “Excellence Pool” [40% of incremental new monies]
Institutions will earn shares in the Excellence Pool in the following manner on an annual basis:
1. Two shares for each NCAA tournament game played in the first year (up to six). In subsequent years, two shares for each NCAA tournament game won (up to five) for each year that those specific NCAA unit(s) remain in the basketball pool distribution.
2. One share for having a RPI of 100 or better or a non-conference record better than .500% achieved against teams that are Division I or are RPI “counters”. [Note: All references to the RPI are the NCAA RPI on Selection Sunday.]
3. One share for the regular season champion(s). [In the event of a tie(s), the unit will be split amongst the tied teams.]
C. The “General Distribution Pool” [60% of incremental new monies].
Monies in the General Distribution Pool will be distributed equally amongst the member institutions.