Sorry for the late post, but I had to cover the PBC championship game for the paper tomorrow and I'm just now getting around to posting about Pitt's exit from the Big East.
The Panthers will pay $7.5 million to exit one year early, the same amount as Syracuse, which came to an agreement with the Big East on Monday.
Pitt AD Steve Pederson had said he would not pay extra to get out early, but he told me tonight that "it just made sense. It was just time to move on."
No big fund-raising events will be taking place to pay the extra $2.5 million. Pitt will easily get that money back in its first year or so in the ACC. The ACC's new television deal is worth $17 million for each team in the conference.
All in all, everyone is happy to be moving on. The Big East has its new schools. The ACC has its new schools.
Until the next round of reliagnment, all is calm in the world of major-college sports.
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