Boise State to pay $2.3 million in settlement
BOISE, Idaho (AP) Boise State has settled a lawsuit with the American Athletic Conference that was first filed a year ago claiming the university owed $5 million in exit fees.
The university announced Thursday that all claims have been dismissed and it has agreed to pay a negotiated exit fee of $2.3 million.
The lawsuit was first filed after Boise State backed out of joining the Big East Conference in 2012. School officials said at the time that the Big East wasn't successful in securing western members or a strong television package.
Boise State officials say that the conference has already been paid $1.6 million and will get $140,000 a year over the next five years. The money will come from $1.1 million in national television bonuses and $3 million from the Mountain West.
Updated July 3, 2014