Big East, West Virginia Agree To Exit Deal, According To Report

The Big East Conference and West Virginia have been in negotiations over the school's exit from the conference since the fall, and the two sides have reportedly come to an agreement. Earlier on Thursday, West Virginia's negotiated exit fee was reported to be sitting at around $11 million, but the deal was still was apparently not done. The Charleston Daily Mail has since updated their story, and is now reporting that the two sides have an agreement.

A source said Thursday the Big East has approved a proposal offered by WVU, but the details on that plan were not immediately available.

Though the Daily Mail is saying that the details on the exit plan aren't available, they are sticking by their previous report that there will be a cash settlement of approximately $11 million.

The Big 12 has strong members, and adding West Virginia will only increase their revenues on media rights packages in the future. Though $11 million sounds like a lot of money, the Big 12's current and future television packages will almost certainly allow WVU to make up that loss fairly quickly.

UPDATE: The total deal, which is still conditional, is for $20 million, with WVU paying $11 million and the Big 12 pitching in $9 million.

For more on WVU sports, check out The Smoking Musket.

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