News With Commentary by TSL Staff

Monday, January 26, 2004
by Will Stewart,

Tech's Move to the ACC to Cost $4.5 Million

Sources have informed that between ACC entry fees and Big East exit fees, Virginia Tech's move to the ACC will cost the school $4.5 million.

The Hokies will become full-fledged ACC members on July 1, 2004, just over five months from now, and the move will cost $4.5 million, consisting of:

  • $1 million exit fee to the Big East, payable by July 1, 2004.
  • $2 million entry fee to the ACC, payable over five years (according to TSL's News and Notes from July 2, 2003).
  • $1.5 million remaining on Tech's entry fee into the Big East, payable over multiple years (number of years unknown).

The $1 million BE exit fee and $2 million ACC entry fee were anticipated, but the $1.5 million extra to exit the Big East is a fee the Hokies had hoped to wriggle out of. According to the entry terms for the Big East, which Tech signed on for back in the summer of 1999, the Hokies were to pay a total of $2.5 million to enter the Big East over ten years: $200k a year in the first five years of membership (July 2000-June 2005), and $300k per year in the second five years of membership (July 2005-June 2010), when revenue sharing would have started.

Apparently, from what sources are telling TSL, the Hokies were not able to get out of the $1.5 million that was to be paid to the Big East from 2005-2010, and VT will still be responsible for that sum.

Technically, that extra $1.5 million is not money to "switch conferences," but it does represent money paid out to conferences that upon completion, will end Virginia Tech's financial responsibilities for league payments. It's this writer's vote that the Hokies pay that money to the Big East ASAP, and put Virginia Tech's association with the Big East as far in the rear view mirror as possible.

ACC Football Schedules to Be Released Soon

Now that the issue of Boston College's entry date into the ACC is settled (they'll enter in 2005-06, not next year), look for the ACC football schedules to come out very soon, probably by the end of the month.

Here's what we know so far:

2004 VT Football Schedule
(Most Dates Not Yet Set)
Neutral USC at FedEx Field (8/28, BCA Classic)
Home OOC: WVU (10/2), Western Michigan, FAMU *
ACC: UVa, Duke, Maryland, NC State
Away OOC: None
ACC: GT, Wake Forest, UNC, Miami
* Florida A&M not confirmed by VT Athletic Dept.

The ticket prices for the BCA Classic against USC are expected to be expensive. The bad news? $50. The good news? That will include parking.


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