Ever since Cinci joined the Big East, they have been trying to play catch-up in terms of facilities and bringing in money. Really, for most of their time in the Big East they have been in the red. Now, they want their cut from the extra money the Big East has to deal with their issues.
“We had some conversations about it yesterday,” said UC athletic director Whit Babcock. “Hopefully we’ll know by the end of the calendar year. Not all of those payments are in lump sums. Some of them are a five-year payment. There’s also entrance fees, which for Houston, SMU and those schools is $2.5 million to come in to the league — $500,000 for five years. So we’ve got entrance fees. We’ve got exit fees. I hate to see those schools go, but we’ve got a new successful league and I’ll be happy to take the funding.”
Babcock said the school is continuing to move forward on plans and funding for the renovation of Fifth Third Arena and Nippert Stadium.
The Big East, of course is saying, “Whoah. Slow down with all this money talk. We don’t really have that much… Or a plan.”
“One of the misconceptions is that we have this pile of money sitting in a bank,” Carparelli said. “A lot of those payments are staggered over a period of years, so it’s not at our disposal just yet. In addition, we’ve incurred a lot of expenses throughout this process: legal expenses, consultants. It’s money well spent. We don’t know what all those expenses are just yet. So the prudent thing to do is to figure out what our expenses are, use that money to pay them and then divide up the remaining amount among the ongoing members.”
That means the five remaining Big East football schools (Cincinnati, UConn, Louisville, Rutgers, USF) and the eight remaining non-football schools will receive the money. Carparelli said they have not determined how the money would be divided between the football and non-football schools.
That should be a fun discussion between the football and basketball schools.