Big East, West Virginia Reach Agreement to Part Ways in June

From on February 14, 2012

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The Big East and West Virginia have reached an agreement in principle that will allow the Mountaineers to leave the conference on June 30, freeing up the school to join the Big 12 immediately and bypassing a 27-month exit fee, the conference announced today.
No terms of the settlement were revealed after the league's Board of Directors voted to terminate West Virginia's Big East membership, though CBSSports.com reported the buyout as being $20 million...

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