MAAC buyout?

[greengold4ever]

not sure this was mentioned in a prior thread, so apologies if this is a duplicate............but saw a mention in the TU today that if a MAAC school leaves prior to giving a 3 yr notice, they are responsible for a $1million exit/buyout fee...........can anyone officially verify that, and was this amount thrust upon Loyola MD for their departure to the Patriot League???

[Tony]

LAST MAAC meeting I could find on line said this about that

. Exit Fees: The Strategic Planning Committee recommended that the exit fee from
membership in the MAAC be raised to $1 million dollars based on an analysis of the
MAAC’s long-term financial commitment to ESPN ($1 million a yr.), Disney Sports,
basketball arena hosting commitments and on-going league operational costs. MAAC
Council of Presidents agreed that the entrance and exit fee discussion should take place
after the Legal Counsel and Commissioner provides a further in-depth accounting of
future conference liabilities and an analysis of the fee structures from other mid major


I read that to say its not in place yet. But there may have been a presidents meeting after this meeting which was dated May of last year

if there is a million dollar exit fee..Siena wont be going anywhere anytime soon

[greenblood]

Feb 20, 2013 14:09:12 GMT -5 Tony said:

LAST MAAC meeting I could find on line said this about that

. Exit Fees: The Strategic Planning Committee recommended that the exit fee from
membership in the MAAC be raised to $1 million dollars based on an analysis of the
MAAC’s long-term financial commitment to ESPN ($1 million a yr.), Disney Sports,
basketball arena hosting commitments and on-going league operational costs. MAAC
Council of Presidents agreed that the entrance and exit fee discussion should take place
after the Legal Counsel and Commissioner provides a further in-depth accounting of
future conference liabilities and an analysis of the fee structures from other mid major


I read that to say its not in place yet. But there may have been a presidents meeting after this meeting which was dated May of last year

if there is a million dollar exit fee..Siena wont be going anywhere anytime soon

I thought you only had to pay the exit fee if you didn't give a certain time period of notice? Perhaps I misunderstood something.

[greengold4ever]

Feb 20, 2013 14:53:00 GMT -5 greenblood said:

Feb 20, 2013 14:09:12 GMT -5 Tony said:

LAST MAAC meeting I could find on line said this about that

. Exit Fees: The Strategic Planning Committee recommended that the exit fee from
membership in the MAAC be raised to $1 million dollars based on an analysis of the
MAAC’s long-term financial commitment to ESPN ($1 million a yr.), Disney Sports,
basketball arena hosting commitments and on-going league operational costs. MAAC
Council of Presidents agreed that the entrance and exit fee discussion should take place
after the Legal Counsel and Commissioner provides a further in-depth accounting of
future conference liabilities and an analysis of the fee structures from other mid major


I read that to say its not in place yet. But there may have been a presidents meeting after this meeting which was dated May of last year

if there is a million dollar exit fee..Siena wont be going anywhere anytime soon

I thought you only had to pay the exit fee if you didn't give a certain time period of notice? Perhaps I misunderstood something.

I believe that could be the case............although, one would wonder if Loyola MD had a three yr plan because no way are they forking out that coin to join the Patriot League, makes no sense..............it may appear that this exit fee is not yet in place.........me thinks if Siena is serious with long range goals of moving to another conference, no time like the present to jump in with both feet, might be some pretty deep water, but nothing ventured nothing gained!!!!!!!!!!

[section2]

The time limit and dollar amount is up to the league and either can be negotiated. The Big East time limit is 3 years but was waived for some teams. It doesn't look like the MAAC has one set in stone.

[saints22]

Feb 20, 2013 14:09:12 GMT -5 Tony said:

LAST MAAC meeting I could find on line said this about that

. Exit Fees: The Strategic Planning Committee recommended that the exit fee from
membership in the MAAC be raised to $1 million dollars based on an analysis of the
MAAC’s long-term financial commitment to ESPN ($1 million a yr.), Disney Sports,
basketball arena hosting commitments and on-going league operational costs. MAAC
Council of Presidents agreed that the entrance and exit fee discussion should take place
after the Legal Counsel and Commissioner provides a further in-depth accounting of
future conference liabilities and an analysis of the fee structures from other mid major


I read that to say its not in place yet. But there may have been a presidents meeting after this meeting which was dated May of last year

if there is a million dollar exit fee..Siena wont be going anywhere anytime soon

I'm pretty sure that this buy-out is now in place. It was prompted by Loyola's notice of departure. Loyola may have had to pay something to leave the MAAC, but it wasn't the $1 million amount that is now in place.

The $1 million buy-out applies is a school provides one year notice or less that it will be leaving the MAAC. It's something like $500,000 for two year's notice, and $250,000 for three year's notice.