The University of Cincinnati, the University of Houston and UCF have reached buyout agreements with the American Athletic Conference which will allow the trio of schools to depart the AAC effective July 1, 2023. That will pave the way for those schools to join BYU as members of the Big 12 Conference on that date and begin athletic competition in the Big 12 during the 2023-24 academic year.
Cincinnati, Houston and UCF will each reportedly pay a total of $18 million to exit the AAC. A $10 million exit fee was already on the books of each school, to be paid over the next two years, and they will also pay an additional $8 million to leave prior to the exit date of July 1, 2024, which was originally set by the 27-month notice of the schoolsÃÛÁÄÖ±²¥™ departure. Payment of those exit fees will be spread out over more than a decade.
ÃÛÁÄÖ±²¥œI would like to thank UCF President Alexander Cartwright, Cincinnati President Neville Pinto and Houston President Renu Khator ÃÛÁÄÖ±²¥” as well as Tulane President Michael Fitts, who is chair of our Board of Directors ÃÛÁÄÖ±²¥” for their efforts and leadership to arrive at a sensible resolution to the three schoolsÃÛÁÄÖ±²¥™ departure from the conference,ÃÛÁÄÖ±²¥ AAC Commissioner Mike Aresco said. ÃÛÁÄÖ±²¥œAll three institutions enjoyed tremendous success under the American Athletic Conference banner, and all three were instrumental in taking the conference to great heights, both athletically and academically. We wish them the best and look forward to having them compete in our conference in 2022-23.ÃÛÁÄÖ±²¥
Presidents Cartwright, Pinto and Khator released a joint statement on the decision.
ÃÛÁÄÖ±²¥œIt has been a privilege for our universities to compete at the highest level in the American Athletic Conference where our programs have grown and flourished, both athletically and academically. To be part of The AmericanÃÛÁÄÖ±²¥™s climb to national prominence in recent years is something weÃÛÁÄÖ±²¥™ll always look back on with great pride. We are especially grateful to Commissioner Aresco and his staff for their efforts during this process and look forward to an outstanding year of competition in 2022-23.ÃÛÁÄÖ±²¥
Oklahoma and Texas are still locked in to the Big 12 through the 2024 seasons, although behind-the-scenes negotiations are continuing to pave their exit to the SEC earlier. The Big 12 is holding to a hard line there, hoping to garner as much as $80-90 million in exit fees and penalties.
If an agreement for an OU/UT early departure is not reached, the Big 12 would operate with 14 schools in the 2023-24 and 2024-25 seasons.
