Boise State is looking to reduce their buyout toward the Big East from $5 million down to $1 million -- or even to pay nothing. The Broncos technically are to pay the Big East football schools $5 million for leaving the league with less than a year's notice to the Big East.
The buyout should have been dropped to $1 million since the Big East lost their status of making a big money bowl game. The contract technically went toward a BCS bowl game, but it can be argued that not having access to a big money bowl game is the same thing.
Boise State President Bob Kustra felt that they joined the Big East in good faith, but that league just no longer exists anymore.
- Boise State's interest in and intent to join the conference was premised upon the conference remaining substantially the same entity as it was at the time the (memorandum of understanding) was signed. Indeed, that the conference would maintain its status and nature was an implied term and obligation of the MOU. However ... the conference no longer maintained the status or nature which it had at the time the MOU was executed."
- Boise State gave the Big East notice that it was not joining the conference in part because the league lost its automatic-qualifier status with the BCS. The school had 60 days after the loss of such status to use that reason to reduce its buyout to $1 million. The BCS announced its new format in November; Boise State withdrew from its Big East agreement on Dec. 31.
- Boise State alleges that the Big East never amended its bylaws to "fairly and equitably account for football-only members," never considered "in good faith" adding other football schools west of the Mississippi River, never created divisions and failed to grant Boise State the same terms as other institutions, which were conditions of Boise State joining the league. However, the league did create divisions.
- Boise State asks the court to find the Big East in breach of the MOU, declare any penalty void and rescind the agreement. It also asked to be reimbursed for its legal costs.
These are very good reasons to lower the buyout to the Big East. In the end my assumption is that Boise State will pay the $1 million which is for leaving the league due to loss of its BCS status. It is very highly unlikely that Boise State will be able recoup their legal fees, that is just wishful thinking.