George Mason's Atlantic 10 financial ramifications

From the CAA in a press release:

George Mason’s teams in seven spring sports (baseball, men’s golf, women’s lacrosse, women’s rowing, softball and men’s and women’s tennis) will become ineligible for CAA spring 2013 championships.

George Mason will forfeit its projected 2013 conference distribution of approximately $330,000 and future distributions (through 2017 totaling an additional $1.32 million). George Mason will also pay a minimum liquidated damages fee of at least $1,000,000.  Total forfeited funds will be no less than $2.65 million.

If you remember, prior to VCU's departure last May the CAA exit fee was only $250,000. However usually the new conference helps to compensate on those costs.