Topic: Big East, Notre Dame agree on exit

[cincyherd]

Notre Dame and the Big East reached an agreement Tuesday allowing the Fighting Irish to leave the league two years early and join the ACC on July 1.

"This decision makes sense for the Big East," commissioner Mike Aresco said in a statement after a vote by Big East presidents. "In view of Notre Dame's expressed desire to join the ACC on an earlier timetable, the Big East and Notre Dame were able to arrive at an acceptable resolution."

It was reported earlier Tuesday that Notre Dame and the Big East had negotiated a $2.5 million exit fee for the Irish. However, Notre Dame will not have to pay.

Notre Dame's exit agreement with the Big East required the Fighting Irish to provide 27 months' notice but did not require an exit fee. To allow Notre Dame to leave before 2015, the Big East had sought at least $2.5 million from the Fighting Irish, a source told ESPN last week.

http://espn.go.com/college-sports/story/_/id/9042949/notre-dame-big-east-agree-irish-exit-2-years-early-join-acc

[cincyherd]

Of the Big East's $110 million, about $10 million was given to the departing Catholic 7 schools, with $15 million going to lawyers and consultants, sources said.