Here's what is holding everything up....
They are currently negotiating exit fees / departure date for the C7.
The C7 want to leave in 2014, but right now they are contractually obligated to pay an exit fee to leave prior to 2015.
I think Aresco and the football schools are amenable to them leaving in 2014, but the exit fee negotiation is tied to a lot of other money issues...
(buying the "Big East" name, deals regarding the MSG basketball tournament contract, how much of the $60+ million pile of money the C7 get to walk away with).
Assuming the C7 plans to invite 5 more to become the 12-team BB Big East, they can't really issue a formal invitation to those schools that can be acted upon,
until they establish the date of C7 departure (for instance Xavier will likely be invited; WHEN ?
The Xavier announcement would typically state a date at which time they would leave the A-10).
I suspect the C7 has a pretty good idea of who they want as commissioner and the other schools, but they will move forward on that OFFICIALLY only after the details
of their departure from the Big East have been finalized.
I would imagine there's going to be a rapid-fire progression once the divorce is final.
I don't see why dividing up other people's money should be so tough; and I don't see why basketball doesn't use the NCAA shares of the leaving schools to buy the Big East name with.
It seems like it should be simple:
Everyone takes what they earned.
C7 is the Big East
Football finds a new name, gets the NCAA Units from SU, Pitt, ND, WVU, Louisville.
MSG as hoops Tournament site is up to MSG to decide.
And it should be that simple, because the C7 can't afford more than that as a lump-sum payment to the BEFB side; and the BEFB doesn't want some kind of long-term payment plan… because half of them want out to a better league.
I think once they hammer out a deal, it'll be like the Mountain West announcement. Where we get:
- Hi, I'm the new commissioner of the Big East.
- Effective next season, the Big East will be comprised of Villanova, Georgetown, St. John's, Seton Hall, Providence, Marquette, DePaul; as well as Xavier, Butler, _____, _____, and _____ who accepted invitations this morning to join us.
- Our games will be on the Fox and Fox Sports family of networks.
- Our men's basketball conference tournament site will be announced at a later date.
- Thanks for coming.