If, prior to July 2013, the Big East reaches a new television contract that doesn’t allocate at least 70 percent of the proceeds to football broadcasts, SDSU can get out of the Big East by paying only $2.5 million.
The Big East’s football TV contract with ESPN expires on Dec. 31, 2013 and will be subject to negotiation next September. After joining, SDSU will share only in revenues generated by the Big East relating to football on the same terms as existing members. It is expected to be at least $6.4 million per member, up from the $1.5 million SDSU gets in the Mountain West.
— San Diego State's outline agreement with the Big East is revealed. The entire document is worth reading, but the above two points are what are directly relevant to Rutgers. The pre-expansion raid offer was $11m per school, but that was for football and basketball. The $6.4m yearly floor is for football only. Using some simple arithmatic based off the 70% football revenue figure, $6.4 million times ten (Navy and mystery team are not on board yet) is $64 million. $64 million is 70% of $91.4 million. $27.4 million split sixteen ways (the current number of future BB members) is $1.71 million yearly per basketball team. If the above information and calculations are correct, that means that the Big East has guaranteed a revenue floor of $6.4 million yearly for each football program, which implies a yearly payment of $1.71 million for each basketball program. This essentially means that the Big East at minimum expects an uptick of a few million per team in football revenue, but sees basketball revenue staying essentially flat. Update: one commentator mentioned this Boise State article, which quotes a 6 million floor and 10-12 million ceiling for football alone. Another update: Houston seems to think that ceiling is likely.