Syracuse agrees on Big East buyout

In a deal with the Big East, the Orange will pay $7.5 million to leave a year early for the ACC.

Posted: July 18, 2012

SYRACUSE, N.Y. - The Big East has reached an agreement with Syracuse University, allowing the Orange to leave the league a year early for the Atlantic Coast Conference.

Syracuse announced last fall its intention to join the ACC, but under Big East bylaws the school had to serve a 27-month exit period. Instead, the Orange will now be allowed to leave on July 1, 2013, and will have to pay a fee of $7.5 million to depart. That's $2.5 million more than specified in the conference bylaws.

"Both sides thought the deal was truly reasonable, and it was done in a most collegial way," Syracuse athletic director Daryl Gross said.

Under the terms of the agreement, a vote will be taken the next time the Big East Conference presidents meet, likely via teleconference. That session has not been officially scheduled yet, according to associate commissioner John Paquette, but it's a mere formality now.

"This closes a chapter and opens a new one filled with exciting possibilities for the Big East's future," interim commissioner Joe Bailey said.

Pitt will also leave the Big East for the ACC, but its departure date remains uncertain. Pitt filed a complaint in a Pennsylvania court in May, claiming the Big East had waived its right to enforce its 27-month withdrawal notice and that the Panthers should be allowed to move to the ACC without further penalty by the 2013-14 conference year. That case is still pending.

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