Boise State still hasn't formally withdrawn, decision to wait could cost millions
Six months after Boise State announced it would join the Big East in 2013, the Broncos not only still haven't officially withdrawn from the Mountain West, but remain in discussions with the MWC about staying in that league, industry sources told CBSSports.com.
Boise State is scheduled to play its final season in the Mountain West in 2012-13 and join the Big East as a football-only member in 2013. However, the Broncos haven't officially withdrawn from the Mountain West.
If they do so before July 1, their exit fee only consists of forfeiting their final year's worth of league revenue (about $2.5 million). However, if the Broncos wait to withdraw after July 1, it would cost even more -- potentially as much as $24 million.
That's because Mountain West by-laws indicate if a school leaves with less than one year's notice -- which would happen if Boise State waits to officially withdraw after July 1 -- the school must forfeit its final year of league revenue plus pay an additional $5 million or double its final year of league revenue, whichever amount is larger. In that scenario, Boise State would lose a minimum of $7.5 million.
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