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).
Xavier freshman forward Jared Ridder will transfer from the program to move closer to home, according to a release from the school.
The 6-foot-7 Ridder hails from Springfield, Missouri as he was regarded as a top-150 prospect by Rivals in the Class of 2017.
“After much consideration and talking with my family, I have decided that it is in my best interest to move home,” Ridder said in the release.
“Jared has indicated to the coaching staff that he has a desire to be closer to home,” Xavier head coach Chris Mack said. “While we are disappointed, we all want Jared to be happy moving forward. We wish him nothing but the best.”
A potent scorer and noted perimeter shooter at the high school level, Ridder helped MoKan win the Nike Peach Jam during the summer of 2016 playing alongside talented players like Missouri’s Michael and Jontay Porter and Oklahoma’s Trae Young. With a desire to move closer to home, could Ridder potentially land at a spot where one of his talented former teammates is playing?
Ridder averaged 24.2 points, 6.8 rebounds and 1.8 assists during his senior season of high school ball at Kickapoo as he was a first-team, All-State selection in Missouri.
Creighton took a big hit to its recruiting efforts late this week as Class of 2018 forward Ian Steere is decommitting from the Bluejays, a source confirmed to NBCSports.com. Steere’s decommitment was first reported by Julius Kim of Elevate Hoops.
The 6-foot-8 Steere is considered a four-star prospect by Rivals as he is coming off of a very solid spring and summer playing with Team Charlotte in the Under Armour Association. A plus athlete who isn’t afraid to bang on the interior, Steere showing an improving skill level throughout the spring and summer as he could see his recruiting soar after opening things up.
According to a report from Jon Nyatawa of the World-Herald, one of the reasons that Steere is opening up his recruitment is his desire to be closer to his native North Carolina. With so many top programs looking for quality help on the interior, it’ll be interesting to see which programs jump in and try to recruit Steere the second time around.
John Wall was inducted into the University of Kentucky Athletics Hall of Fame on Friday night as he delivered an emotional speech while talking to his mother.
The first inductee into the Hall of Fame to play for current Wildcat head coach John Calipari, Wall only spent the 2009-10 season in Lexington but he became the first national player of the year to play at Kentucky before becoming the No. 1 pick in the 2010 NBA Draft.
Thanking his mother, Calipari, his family, friends and Big Blue Nation, the Washington Wizards guard gave a very moving speech, including an emotional part directed to his mother at around 4:35.
Ohio State continued a strong week on the recruiting trail on Friday night by landing a commitment from Class of 2018 guard Luther Muhammad.
Regarded as a four-star prospect, the 6-foot-4 Muhammad is a tough and rugged perimeter defender who can attack the basket. Also showing some ability to play on the ball as a secondary handler, Muhammad is a very solid addition to Ohio State’s recruiting class since they need to overhaul their roster under new head coach Chris Holtmann.
Muhammad is the third player to commit to the Buckeyes in the Class of 2018 this week as he joins four-star forward Jaedon LeDee and three-star guard Duane Washington in the current Ohio State recruiting class. Since Washington is a three-point threat and Muhammad is more of an off-the-bounce specialist, the two guards are a good start for Ohio State in this class as they will likely try to find a true floor leader to play with them on the perimeter.
Michigan added to an already strong Class of 2018 recruiting haul on Friday night as four-star forward Ignas Brazdeikis pledged to the Wolverines on Twitter.
The 6-foot-8 Canadian was one of the premier scorers in the Nike EYBL this past spring and summer playing with CIA Bounce as Brazdeikis averaged 21.1 points per game on 49 percent shooting from the floor. Well-rounded outside of his scoring, Brazdeikis also put up 7.4 rebounds and 2.1 assists per game while also showing a workable jumper that was 26 percent from three-point range.
With the job that Michigan head coach John Beilein has done developing forwards, most recently with the rapid improvement of players like D.J. Wilson and Moritz Wagner, it’ll be fascinating to see how Brazdeikis will look at the college level after some time on campus. Beilein’s offense is favorable for skilled forwards with a penchant for scoring and Brazdeikis could end up being a tremendous fit for the Wolverines.
Brazdeikis becomes the fourth member of Michigan’s Class of 2018 recruiting haul as he joins four-star forward Brandon Johns, four-star guard David Dejulius and three-star forward Taylor Currie.