Louisville agrees to pay AAC $11M

[ponyinNC]

To the AAC in order to leave league on July 2014 according to the AAC and McMurphy

[smusic 00]

$Cha-Ching$

Edit: I guess, technically, the AAC lost $4 million, though

[feelthehorsepower]

They could've stayed and not have to pay that money...but then again, they will make $20 million each year in the ACC...

[S....M....U]

$$$

[ponyinNC]

I should add that I also think they will leave behind a lot of $$ in basketball credits - something like 18 million dollars in basketball units over the next 6 years

[MustangStealth]

Louisville's agreement with the American specifies that if Rutgers is allowed to leave the league before July 1, 2015, and pays an exit fee less than $11 million, then Louisville would also get a refund for that difference.

So this is not finalized yet... we still have to get the money out of Rutgers too before we can keep it.

[blackoutpony]

I didn't know that Louisville gave notice in 2011 they were leaving the conference.... they planned to get out before we were ever even in it...