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Most conferences have a graduated exit fee structure, i.e., the shorter the notice the higher the fee. The A-10 imposes a $2 million fee if the notice is less than 12 months, the fee is less with greater notice. In other words, most colleges can exit their league affiliation rather quickly, but it typically comes at a high financial cost. Not sure what the exit penalty is for the Horizon, but here is some info on a few of the majors:

ACC: School must notify conference at least ten months in advance and pay three years' worth of conference distributions (roughly $50 million).

Big 12: School must notify conference at least 24 months in advance and pay one years' worth of conference distributions (roughly $19 million). Schools can accelerate their exits, but they must pay more to do so: notification prior to 18 months increases exit fee by 40%, prior to 12 months increases fee by 60%, prior to six months by 80% and within six months doubles the fee. Conference also has grant of media rights through 2024-25.

Big East: School must notify conference at least 27 months in advance and pay $5 million. Schools can accelerate their exits, but they must pay more to do so: an immediate exit cost West Virginia an additional $15 million; leaving one year earlier cost Pittsburgh and Syracuse an extra $2.5 million each.

Since WSU has been in the MVC for decades, they are most likely "grandfathered" into a status where they are not subject to an exit fee. I would expect more recent additions like Loyola and future members would have to pay a hefty fee if they leave the conference. Sometimes those fees are tiered based on how quickly the school leaves, e.g., $2 million if departing in less than a year, $1 million if giving at least a year notice. I would expect this applies to Valpo if they leave the Horizon.

Detroit Mercy is in the top quartile of the Midwest in USN&WR, not bad when you consider they take a lot of kids from some pretty challenged high school systems. #24 ranking is not materially different than #20 Northern Iowa.