Beebe acknowledges issues with Buffs staying two years
By Kyle Ringo Camera Sports Writer
Posted: 06/15/2010 11:18:14 PM MDT
Big 12 commissioner Dan Beebe answers questions during a news conference at Big 12 headquarters in Irving, Texas, on Tuesday. ( Cody Duty )
The University of Colorado could save itself approximately $1.8 million by leaving the Big 12 Conference for the Pac-10 in 2011 instead of 2012, according to the formula governing such moves in the Big 12 bylaws.
CU has already provided two years notice of its intention to leave to the Big 12, meeting the requirement to do so in the conference`s bylaws. Those rules mandate any departing member must forfeit 50 percent of its share of conference revenue for each of the final two years it is in the league.
Colorado has received around $9 million in each of the past two years and would probably be in line for similar amounts over the next two years. Fifty percent of that would be withheld over a two-year period for a total of about $9 million.
The Big 12 bylaws say that if a departing school gives one year notice, which would have to be done by July 1, it forfeits 80 percent of its revenue for that year and 90 percent if less than a year notice is given.
Assuming CU`s conference distribution remains the same for the 2010-11 school year, the school would forfeit about $7.2 million instead of the $9 million it would lose over a two-year span.
Big 12 Conference commissioner Dan Beebe said CU has indicated in recent days it would prefer to move up its timetable by a year.
more...
http://www.buffzone.com/ci_15306433
By Kyle Ringo Camera Sports Writer
Posted: 06/15/2010 11:18:14 PM MDT
Big 12 commissioner Dan Beebe answers questions during a news conference at Big 12 headquarters in Irving, Texas, on Tuesday. ( Cody Duty )
The University of Colorado could save itself approximately $1.8 million by leaving the Big 12 Conference for the Pac-10 in 2011 instead of 2012, according to the formula governing such moves in the Big 12 bylaws.
CU has already provided two years notice of its intention to leave to the Big 12, meeting the requirement to do so in the conference`s bylaws. Those rules mandate any departing member must forfeit 50 percent of its share of conference revenue for each of the final two years it is in the league.
Colorado has received around $9 million in each of the past two years and would probably be in line for similar amounts over the next two years. Fifty percent of that would be withheld over a two-year period for a total of about $9 million.
The Big 12 bylaws say that if a departing school gives one year notice, which would have to be done by July 1, it forfeits 80 percent of its revenue for that year and 90 percent if less than a year notice is given.
Assuming CU`s conference distribution remains the same for the 2010-11 school year, the school would forfeit about $7.2 million instead of the $9 million it would lose over a two-year span.
Big 12 Conference commissioner Dan Beebe said CU has indicated in recent days it would prefer to move up its timetable by a year.
more...
http://www.buffzone.com/ci_15306433