Big East Conference drops $5 million lawsuit against TCU
Related items: Big East sues TCU for $5 million exit fee
The Big East Conference’s lawsuit against TCU was dropped with prejudice on Wednesday.
The suit can’t be refiled because it was dismissed with prejudice.
"TCU has fully discharged its obligations to the Big East and the lawsuit is amicably settled without admission of liability of any party," Sara Naggar, Big East director of communications, said.
The Big East sued TCU in federal district court on June 11, claiming it was due a $5 million exit fee, compensation for TCU’s move to The Big 12 Conference last October. According to the suit, TCU "refused to make payment or acknowledge its obligation to do so,” according to court documents.
Wednesday evening, university spokesperson Lisa Albert wrote in a prepared statement that “the university is pleased with the amicable resolution of this matter.”
According court documents, the Big East claimed the $5 million exit fee was a “reasonable estimate of the Conferences damages” if the university did not join the conference on July 1, 2012.
Although the Big East dropped its action against TCU, it has settled claims with the University of Pittsburgh and Syracuse University.
Pittsburgh sued the conference in May claiming the Big East waived its right to enforce a 27-month withdrawal notice. According to the Big East’s official site, on Wednesday Pittsburgh has agreed to pay the conference $7.5 million, including the $5 million exit fee.
On Monday, Syracuse University agreed to pay the Big East $7.5 million. Both Syracuse and Pittsburgh’s memberships will be terminated July 1, 2013.
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