All in the details: Examining the deal that kept the Mountain West alive, including previously unreported items

We know the Mountain West conference — bloodied, bruised and beat up as it may be after the past month of surprise defections — will live to see another day.

Or, more specifically, another eight years based on six member schools — the University of New Mexico, Air Force, San Jose State, Nevada, UNLV and Wyoming — and football-only member Hawaii signing a memorandum of understanding indicating they will prepare and sign a grant of rights agreement to keep the league alive and running at least through June 30, 2032.

The Journal this week was able to obtain a copy of the memorandum of understanding with eight signatures — from MW Commissioner Gloria Nevarez to UNM President Garnett S. Stokes and the other six university presidents signing off on the deal.

Here are those details, some previously reported, from the document obtained by the Journal:

EXIT FEES: The MW is hopeful to collect more than $100 million in exit fees and other penalties from the five departing schools: Colorado State, Boise State, Fresno State, San Diego State State and Utah State. The money won’t be collected until July 1, 2026 at the earliest and could be tied up and/or negotiated further in a courtroom.

Some of the important takeaways from the exit fees distribution:

• From the first $61 million collected from the exit fees, the distribution will be: 24.5% apiece to UNLV and Air Force, 11.5% apiece to Nevada, UNM, SJSU and Wyoming and 5% to Hawaii.
• The next $18 million collected will be “held in reserve and used by the conference to cover the expenses associated with recruiting new member institutions into the Conference.”
• The next $21 million collected goes back to the previous per-school distribution schedule (i.e. UNM getting 11.5% of this portion of collected fees).
• The next portion of collected exit fees goes toward legal fees and other expenses.
• Anything collected after that will be dispersed at 15.83% apiece to the six full members and 5% to Hawaii.

MEDIA RIGHTS DEAL: One notable clause states the MW will maintain a media rights deal distributing “approximately $3.5 million” (which is no less than the current level) to member schools. “If necessary, the conference will utilize a combination of revenue sources to maintain these distributions,” the clause states.

MW BASKETBALL TOURNAMENT: The conference basketball tournament will remain in Las Vegas, Nevada. (Note: The league was not considering moving the event outside of Las Vegas, though had explored moving the tournament out of the Thomas & Mack Center on UNLV’s campus. It has been reported that it will now remain at the Thomas & Mack, though all that is spelled out in the MOU is that it remain in Las Vegas).

OFFICES MOVING: Though it’s unclear why this would be included in an MOU of this nature, clause eight reads: “The conference will move its offices to Las Vegas, Nevada, as soon as practicable after the expiration of its existing office lease in Colorado Springs, Colorado, and such Conference offices shall remain in Las Vegas, Nevada, at least through the end of the Term of this MOU and the Grant of Rights Agreement.” The league’s headquarters have been in Colorado Springs since December 1998.

MOVING FORWARD: Notably, any MW member school invited to join the ACC, Big Ten, Big 12 or SEC can leave without penalty. And the MOU can be modified only in writing and with both the league and 3/4 of the member schools.