TCU’s time in the Big East ended before it ever began, but that didn’t save the Texas school from a $5 million lawsuit from the conference, alleging it owed money for pulling out of a commitment and leaving to join the Big 12.
That lawsuit was dropped Wednesday, as TCU agreed to pay the $5 million balance and legally free itself from obligations to the Big East.
Bloomberg was the first to report the news, and it was later confirmed by the Associated Press.
”TCU has fully discharged its obligations to the Big East and the lawsuit is amicably settled without admission of liability of any party,” the conference said a statement to the AP.
TCU never competed as a member of the Big East, having agreed to become a member in November 2010, but accepting an invitation to the Big 12 in October, thus leaving the Big East behind.
The Big East took care of its legal paperwork Wednesday, also settling with Pittsburgh to allow the Panthers to leave for the ACC in July 2013 in exchange for $7.5 million.
TCU basketball welcomes new head coach Trent Johnson in 2012-13, looking to improve on an 18-15 finish last season, which included 7-7 in the Mountain West.
The Horned Frogs’ top two leading scorers, Hank Thorns and J.R. Cadot, have both graduated, leaving TCU with a scoring hole to fill. Three players will join the team from the high school Class of 2012: Clyde Smith, Aaron Durley, and Charles Hill.