When Rutgers made the decision in 2012 to accept an invitation to join the Big Ten, two questions that needed answering were when the school would make the move and how much it would cost them. Some programs involved in conference realignment have simply waited after making their decision, choosing to negotiate their exit fee, but a few others have gone with the lawsuit method.
Rutgers did just that in December 2012, suing the Big East over its exit fee and the 27-month waiting period required of members in the Big East’s bylaws.
On Wednesday the American Athletic Conference announced that it has come to an agreement with Rutgers in regards to the terms of the separation, with the school having to pay an $11.5 million exit fee. With the conference having already received $5 million, Rutgers will pay the remaining $6.5 million over a four-year period with the first payment to be made on September 1, 2014.
The American originally sought to receive a $15 million exit fee from Rutgers, so the school does save $3.5 million with this agreement. And given how much Rutgers expects to make in the Big Ten, they’ll make up for that loss (and then some) down the line.
“This settlement will allow us to continue along the path to self-sufficiency for our athletic programs,’’ [Rutgers president Robert] Barchi said. “One-time restructuring costs like this settlement and the costs associated with canceling a previous marketing contract are more than offset by anticipated revenues from the Big Ten and from our new marketing partner IMG College. The increased ongoing revenue resulting from these one-time investments will provide the financial support necessary for the athletic department to move toward financial stability.’’
Rutgers was going to be a member of the Big Ten on July 1, 2014. The only question was just how much it would cost the school, and Wednesday’s announcement provided the answer. For the Big Ten there’s just one question left: how much will Maryland have to pay the ACC?
The ACC wants the $52.2 million exit fee that its members agreed to in 2012, with Maryland and Florida State being the lone schools to object to the increase. Obviously Maryland doesn’t want to pay that much, leading to dueling lawsuits in Maryland (filed by the school) and North Carolina (filed by the ACC).
RALEIGH, N.C. (AP) — The NCAA has denied North Carolina State guard Terry Henderson’s request for another year of eligibility.
Henderson announced the decision Friday in a statement issued by the school.
The Raleigh native played two seasons at West Virginia before transferring to N.C. State and redshirting in 2014-15. He played for only 7 minutes of the following season before suffering a season-ending ankle injury.
As a redshirt senior in 2016-17, he was the team’s second-leading scorer at 13.8 points per game and made a team-best 78 3-pointers.
Henderson called it “an honor and privilege” to play in his hometown.
SMU pulled in a frontcourt player in Georgetown transfer Akoy Agau, a source confirmed to NBCSports.com. Agau is immediately eligible for next season as a graduate transfer.
The 6-foot-8 Agau started his career at Louisville before transferring to Georgetown after one season. Spending two seasons with the Hoyas, Agau was limited to 11 minutes in his first season due to injuries. He averaged 4.5 points and 4.3 rebounds per game last season.
Coming out of high school, Agau was a four-star prospect but he’s never lived up to that billing in-part because of injuries. Now, Agau gets one more chance to make a difference as he’s hoping to help replace some departed pieces like Ben Moore and Semi Ojeleye.
South Carolina big man Sedee Keita will transfer from the program, he announced on Friday.
The 6-foot-9 Keita was once regarded as a top-100 national prospect in the Class of 2016, but he never found consistent minutes with the Gamecocks for last season’s Final Four team.
Keita appeared in 29 games and averaged 1.1 points and 2.0 rebounds per game while shooting 27 percent from the field.
A native of Philadelphia, Keita will have to sit out next season before getting three more seasons of eligibility.
Although Keita failed to make an impact during his only season at South Carolina, he’ll be a coveted transfer thanks to his size and upside.
Mississippi State will lose two players to transfer as freshmen Mario Kegler and Eli Wright are leaving the program.
Both Kegler and Wright were four-star prospects coming out of high school as they were apart of a six-man recruiting class that is supposed to be a major foundation for Ben Howland’s future with the Bulldogs.
The 6-foot-7 Kegler was Mississippi State’s third-leading scorer last season as he averaged 9.7 points and 5.5 rebounds per game. Kegler should command some quality schools on the transfer market, especially since he’ll still have three more years of eligibility after sitting out next season due to NCAA transfer regulations. Kegler’s loss is also notable for Mississippi State because it is the second consecutive offseason that Howland lost a top-100, in-state product to transfer after only one season after Malik Newman left for Kansas.
Wright, a 6-foot-4 guard, was never able to find consistent minutes as he was already behind underclass perimeter options like Quinndary Weatherspoon, Lamar Peters and Tyson Carter last season. With Nick Weatherspoon, Quinndary’s four-star brother, also joining the Bulldogs next season, the writing was likely on the wall that Wright wasn’t going to earn significant playing time.
A big recruiting day for N.C. State continued on Saturday afternoon as Utah transfer and guard Devon Daniels pledged to the Wolfpack.
Earlier in the day, N.C. State and new head coach Kevin Keatts landed another quality transfer in UNC Wilmington guard C.J. Bryce.
The 6-foot-5 Daniels just finished his freshman season with the Utes in which he put up 9.9 points 4.6 rebounds and 2.7 assists per game while shooting 57 percent from the field and 40 percent from three-point range. Just like Bryce, Daniels will have to sit out the 2017-18 season due to NCAA transfer regulations before he has three more seasons of eligibility.
N.C. State now has two potential starters on the perimeter for the 2018-19 season with the addition of Bryce and Daniels as it will be interesting to see what kind of talent the Wolfpack can get around them.