USM paid C-USA 1.75M to exit early

[TripleGrad]

Interestingly, the agreement specifically required keeping that number secret from UNT.

 

https://sm2media.com/31214/news/usm-paid-1-75-million-to-exit-c-usa/

 

The University of Southern Mississippi paid $1.75 million to Conference USA as “Consideration Paid to the Conference for Early Withdrawal” according to an agreement document obtained by the USM Student Media Center today. 

The “Confidential Settlement Agreement and Mutual Release” was signed on March 29 by the presidents of USM, Marshall University and Old Dominion University, the three schools that left C-USA.

 

[meanJewGreen]

19 minutes ago, TripleGrad said:

Interestingly, the agreement specifically required keeping that number secret from UNT.

 

https://sm2media.com/31214/news/usm-paid-1-75-million-to-exit-c-usa/

 

The University of Southern Mississippi paid $1.75 million to Conference USA as “Consideration Paid to the Conference for Early Withdrawal” according to an agreement document obtained by the USM Student Media Center today. 

The “Confidential Settlement Agreement and Mutual Release” was signed on March 29 by the presidents of USM, Marshall University and Old Dominion University, the three schools that left C-USA.

 

My bet is because we probably paid double 

[southsideguy]

If we have paid the fee I would sue them for some money back.  

Lets see the guys who left early get a better deal than the guys who met the obligations?  Makes since to me. 

Has anyone sent this to WB?  Judy has some explaining to do.

Do we get any of the money from them leaving early?

I hope we did not screwed off the field like we did on the field.

 

 

Edited September 22, 2022 by southsideguy

[NorthTexan95]

Worth it. 

[Dannymacfan]

Totally worth it.

[MeanGreenTexan]

I don't know that NT has paid anything... because NT hasn't left yet.
Also, we didn't leave a full year before the contract allowed like USM/Marshall/ODU.

[jtm0097]

I wonder if they got Brett Favre to help find the funds.

[Green Otaku]

2 hours ago, southsideguy said:

If we have paid the fee I would sue them for some money back.  

Lets see the guys who left early get a better deal than the guys who met the obligations?  Makes since to me. 

Has anyone sent this to WB?  Judy has some explaining to do.

Do we get any of the money from them leaving early?

I hope we did not screwed off the field like we did on the field.

 

 

 

Leaving member forfeit their conference payouts, so no we don't get anything from the 3 that left. That will be split by the remaining teams. 

And no, I don't think UNT is paying anything outside of forfeiting their payouts, since we followed the bylaw and gave CUSA the appropriate amount of time. 

[southsideguy]

That is great news, however why did Judy not want to disclose the deal to the other schools leaving the conference?

[helix]

3 hours ago, NorthTexan95 said:

Worth it. 

With how we are playing, is it though?

I'm fine going into the AAC with a new coach and maybe some excitement.

[Green Otaku]

1 hour ago, southsideguy said:

That is great news, however why did Judy not want to disclose the deal to the other schools leaving the conference?

Not her or CUSA, the departing schools are the ones that didn't want the amount disclosed. 

Edited September 22, 2022 by Green Otaku

[southsideguy]

3 hours ago, Green Otaku said:

Not her or CUSA, the departing schools are the ones that didn't want the amount disclosed. 

Wonder why they didn't?

[Green Otaku]

1 hour ago, southsideguy said:

Wonder why they didn't?

I'm not sure honestly. Maybe they didn't want the students/donors/alums to know how much they were spending to get out of CUSA early. 

 

Maybe @Arkstfan can shed some light on it. 

Edited September 23, 2022 by Green Otaku

[NT80]

43 minutes ago, Green Otaku said:

I'm not sure honestly. Maybe they didn't want the students/donors/alums to know how much they were spending to get out of CUSA early. 

La Tech would gladly pay it to be able to leave CUSA. 

[El Paso Eagle]

1 minute ago, NT80 said:

La Tech would gladly pay it to be able to leave CUSA. 

Or be willing to eat the equivalent in crow.

[NorthTexasWeLove]

10 hours ago, meanJewGreen said:

My bet is because we probably paid double 

Sounds like us. 

[VideoEagle]

9 hours ago, NT80 said:

La Tech would gladly pay it to be able to leave CUSA. 

That would presume another conference wants them. The way La Tech administration has behaved toward other schools over the last 30ish years, not enough members of any other conference does. 

[keith]

Nice to see student journalists getting this story and shining a light on what happened.  The truth should never be "hidden" or prevented from being known.  The desire (requirement) to keep this agreement secret is a massive red-flag of some potential wrong doing.  

[wardly]

5 hours ago, VideoEagle said:

That would presume another conference wants them. The way La Tech administration has behaved toward other schools over the last 30ish years, not enough members of any other conference does. 

Their shabby treatment of ULL and La.Monroe came back to bite them.

[Matt from A700]

The money will go to towards donating nearing 5,000 kid's Jeeps to kids in the 11 CUSA markets in need. Now everyone will have a Merry Christmas, thanks to Jolly St. Jude!

[Texas Stranger]

On 9/22/2022 at 8:45 PM, El Paso Eagle said:

Or be willing to eat the equivalent in crow.

LT doesn't do that .  They're very die-on-this-hill type.

[VideoEagle]

On 9/23/2022 at 11:52 AM, wardly said:

Their shabby treatment of ULL and La.Monroe came back to bite them.

And Arkansas State. And others. More importantly,  schools from other conferences saw how they behaved. Even schools who were never in the Belt don't want to have to deal with that kind of behavior. 

[Arkstfan]

Otaku is wrong. Clear in the article that the student paper asked for the settlement and CUSA opposed.
https://sm2media.com/31214/news/usm-paid-1-75-million-to-exit-c-usa/

CUSA asked that the records be sealed and not disclosed under Mississippi Public Records law. CUSA also asked that it not be disclosed to schools going to AAC I suppose CUSA was afraid it would be used to argue for a lower departure that would let the departing schools get some league revenue.

https://247sports.com/Article/Conference-realignment-Conference-USA-in-battle-to-keep-terms-of-Southern-Miss-settlement-secret-per-report-187199099/