I’ve received a few requests for details on the buyout contract agreed to and/or signed by the eight members of the WAC. All eight verbally agreed to sign it, but Nevada’s president did not.
Here’s the information provided by my source from the early draft.
Upon agreement of the conditions of this MOU, WAC members and BYU will enter into a contract that prohibits any current WAC member school and BYU from joining any other conference during the 1st 5 years of the agreement; or joining any new athletic conference during the 1st 5 years of the agreement. Penalty for departing within the 1st 5 years will be $5 million. However, any WAC school or BYU would be permitted to join a conference that currently has automatic access for its champion into the BCS without penalty; i.e Pac 10 or Big 12. In addition, La Tech would not be bound by this provision should it elect to join another conference. Should BYU or any WAC member leave the WAC for a BCS conference this contract would be terminated for the rest of the parties. [If (i) any current member of the WAC leaves the conference (with the exception of La Tech), whether to join a BCS AQ conference or by exercising the buy-out provision, or if (ii) any new member joins the WAC, BYU has the option, at its sole discretion, to terminate the agreement without any buy-out penalty.]