Finally something the SEC Sucks at
SEC Haters! Check this out. The SEC is really, really, really bad at something. See! Look at the chart above! The SEC scored a zero! Time to celebrate!
The SEC is terrible at making teams pay a buyout to leave the conference. I’ll get into the why of this in a moment, but in the meantime here is the overview of conference buyouts.
The ACC charges three years’ of financial payments in order for a team to leave. This comes out to around $50 million. That’s a steep price to leave such a crappy conference.
To leave the Big XII immediately a member institution must pay two years’ worth of distributions, or about $38 million.
The Big 10 doesn’t charge a fee, but if a school leaves, the Conference technically holds all of its media rights through the 2027 athletic year. I’m not sure how that would hold up in court, but I used the estimated revenues for each team per yer and assumed they’d hit the school with two years’ worth of media revenue (a conservative estimate). The result? A cool $34 million.
The Pac-12 essentially has the same arrangement as the Big 10 but with an earlier media rights expiration date (2024), so I followed the same guesstimating procedure. That yields a buyout of $42 million.
The Big East keeps it simple: if somebody wants to leave now they pay $15 million like West Virginia did a few years ago. This might be the primary source of revenue for the conference.
No buyout. Zero. $0.
Why does the SEC suck so bad?
I’ve heard it said that it is foolish for a wealthy man (or woman) to get married. After all, his getting married is the equivalent of him betting half of his net-worth on a two pronged parlay: 1. His ability to love another person for the entirety of his (or her) life; 2. His ability to be loved by that same person for the entirety of his (or her) life. That’s not necessarily a wise investment.
Now, that sentiment is typically said in jest, but there is some (sad) truth to it, hence the prevalence of prenuptial agreements. The SEC doesn’t offer a prenup to member institutions. Obviously, the SEC is not going to compensate a team for leaving, but more importantly, the SEC is not going to seek compensation in the event that it is left. The SEC doesn’t need an insurance plan. The SEC is the easiest to love. The SEC knows that only a foolish Athletic Director would go out for fruit when he has bacon at home. The SEC is confident in its skills as a lover.
The other conferences lack that confidence – and understandably so. Therefore, they charge exit fees. The ACC, Big 12, Big East, Big Ten and Pac-12 all have one thing in common. They are insecure lovers.
That’s all I got/