FORT WORTH — A decision on financial settlements for the three schools, which includes the University of Houston, that plan to depart the American Athletic Conference for the Big 12 needs to “be done pretty soon,” AAC commissioner Mike Aresco said Saturday.
“We hope to get something resolved,” Aresco said. “If we’re going to reach a settlement for them to exit earlier in 2023 – and we have no obligation to do that, but we are more than happy to have them stay – it’s probably got to be done pretty soon. There is some urgency to our discussions."
Houston, Cincinnati and Central Florida accepted invitations last September to join the Big 12, possibly as early as 2023. The schools are contractually obligated to remain in the AAC through 2024.
“We’re talking,” Aresco said prior to Saturday’s semifinal game between UH and Tulane at Dickies Arena. “We think we’ve made some progress. Have we gotten closer? Yes. Are we there yet? Now we are not.”
Aresco described the talks as "amicable.”
AAC bylaws require schools to give a 27-month notice before they leave and pay a $10 million exit fee. Since any departure would be past the deadline, the league could negotiate a higher exit fee.
The AAC asked for $45 million from each school during initial negotiations, a person with knowledge of the talks told the Houston Chronicle earlier this month. Connecticut negotiated a $17 million exit fee to leave early for the Big East in 2019.
“You always negotiate from a certain number you’d like to get but you realistically know you’re going to accomplish,” Aresco said. “We’re trying to find a number.”
Aresco said the three schools have indicated they would stay through 2024 if an agreement on exit fees can’t be reached. The timing of any departures from the AAC is likely to coincide with the joining of the six programs from Conference USA, which includes Rice and UTSA.
“If we don’t get there, then we would just say fine we’ll stop negotiations and we’ll stay until July 1, 2024, which they said they would do if we don’t reach an agreement,” Aresco said.
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AAC commissioner: Exit fees need to be settled soon for Big 12-bound schools - Houston Chronicle
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