Revised Seat Equity Plan now Delayed until Next Year

[Mistachill]

I went back and researched VCU's exit fee and you are correct. VCU left $5 million on the table when they left the CAA. They also paid an exit fee of $250,000 to the CAA and an entrance fee of $700,000 to the A-10. The CAA, later that year after VCU left, increased their exit fee to $1 million. Since joining the A-10, VCU's split on the NCAA units earned has been 75%, with the A-10 receiving the other 25% to split amongst it's other members.

The finer details of VCU's big move

On Monday afternoon at 1:30pm, VCU President Michael Rao took the podium at the Stuart C. Siegel Center to announce “Virginia Commonwealth University will join the Atlantic 10 in all sports effective July 1st, 2012.”

rvanews.com

Since joining the A-10, VCU has earned 4 units under Shaka Smart, 3 units under Will Wade and 2 units under Mike Rhoades. VCU has only earned 2 units since 2017.

And I'm assuming a certain school with the initials O D and U had to pay the increased exit fee?

 

[Wolfpack Ram]

And I'm assuming a certain school with the initials O D and U had to pay the increased exit fee?

As did fmason, I assume.

One other point, VCU did not walk away from $5 million when they left the CAA. That was the total payout for 6 years to the CAA. Not sure what the % formula was for the CAA back then, but the article stated, "Tournament units” of $250,000 each reside in the conference for six years, so the CAA will pocket all $5 million." If the CAA pocketed all of the revenue from the units, then VCU only lost out on what their share of those units would have been. If the CAA % was 50%/50%, then VCU only walked away from $2.5 million.

Regarding VCU's move to the A-10, they earned 4 units over the rest of Shaka's time at VCU. Assuming the payout per unit was still $250,000 (and it was likely higher), VCU 75% share of the 4 units Shaka's teams earned while in the A-10 would have been $2.25 million.

 

[SpiderRAM]

I called today to make my donation. The person answering told me that to keep my seats I was required to give $— (equal to my donation last year).

I said I did not believe that was true because my seats are below my donation level.
He paused and the said he would “go ahead and honor that seating location amount so I would owe $—“

He did thank me at the end of the call, so that’s something.

 

[PRock]

The A-10 formula is as follows:

The A-10’s revenue sharing is 75%-25% with the participating institutions keeping 75%.

Except for the first unit earned by the AQ, that is spread evenly across the conference.

 

[Newboy]

I called today to make my donation. The person answering told me that to keep my seats I was required to give $— (equal to my donation last year).

I said I did not believe that was true because my seats are below my donation level.
He paused and the said he would “go ahead and honor that seating location amount so I would owe $—“

He did thank me at the end of the call, so that’s something.

See ya this season!

 

[Ramcounter]

Except for the first unit earned by the AQ, that is spread evenly across the conference.

Wait, so if a team is a lock for the tournament they are better off financially losing the AQ?

 

[TampaKAP]

Wait, so if a team is a lock for the tournament they are better off financially losing the AQ?

Substantially better the way it reads, especially if they lose to a team that could only make it as an AQ

 

[PRock]

Substantially better the way it reads, especially if they lose to a team that could only make it as an AQ

yes and no…..that is fixed income every year, regardless of performance, every team get’s it, recall the adage about birds in hand. Everything else is allocated on merit…..the bonus portion of the comp structure. Not as silly as it seems on first glance.

 

[PRock]

Wait, so if a team is a lock for the tournament they are better off financially losing the AQ?

In any given year, yes. In the big picture though, over the course of multiple years it washes out…..unless a team regularly wins the AQ, which can never be said about the “peoples republic of the A10”.

 

[VCU Finance 2008]

I went back and researched VCU's exit fee and you are correct. VCU left $5 million on the table when they left the CAA. They also paid an exit fee of $250,000 to the CAA and an entrance fee of $700,000 to the A-10. The CAA, later that year after VCU left, increased their exit fee to $1 million. Since joining the A-10, VCU's split on the NCAA units earned has been 75%, with the A-10 receiving the other 25% to split amongst it's other members.

The finer details of VCU's big move

On Monday afternoon at 1:30pm, VCU President Michael Rao took the podium at the Stuart C. Siegel Center to announce “Virginia Commonwealth University will join the Atlantic 10 in all sports effective July 1st, 2012.”

rvanews.com

Since joining the A-10, VCU has earned 4 units under Shaka Smart, 3 units under Will Wade and 2 units under Mike Rhoades. VCU has only earned 2 units since 2017.

I don't remember exactly what the split was in the CAA, but I do remember that the split in the A10 was better for the team earning those units. If we could put together another tourney run like we had 2011-2016 there would be a lot of money flowing in from that. If my math and memory are correct we played in 14 games during those 5 years.

 

[Wolfpack Ram]

I don't remember exactly what the split was in the CAA, but I do remember that the split in the A10 was better for the team earning those units. If we could put together another tourney run like we had 2011-2016 there would be a lot of money flowing in from that. If my math and memory are correct we played in 14 games during those 5 years.

VCU did play in 14 NCAA Tournament games during that timeframe, but received 13 NCAA units. One of the games was the 2011 play-in game in Dayton. You only receive one unit for playing in the play-in/first round game even if you play two games. I'll still take that run again in a second.

 

[Ramcounter]

In any given year, yes. In the big picture though, over the course of multiple years it washes out…..unless a team regularly wins the AQ, which can never be said about the “peoples republic of the A10”.

I had no idea that was the case. Talk about a major impact for a team who wins the AQ and loses in say the 8/9 game.

 

[Ramcounter]

Was there any news/updates from tonight’s RAF board meeting?

 

[SpiderRAM]

Was there any news/updates from tonight’s RAF board meeting?

https://twitter.com/i/web/status/1526331949278699521

 

[AHEF]

https://twitter.com/i/web/status/1526331949278699521

There is one reply to it. - from jet74798 - Hope they talked about the continued screwing of Capital Campaign members.