The Colonial Athletic Association postponed a scheduled vote today on increasing the exit fee for its schools because it was unable to get a quorum on the Council of Presidents.

The vote will be rescheduled, the league said.

...

With conference poaching part of the college landscape, CAA presidents are considering a proposal to raise the exit fee to at least $1 million for the 11 schools that are members in all sports. Those schools are Virginia Commonwealth, George Mason, James Madison, Old Dominion, William and Mary, Delaware, Drexel, Hofstra, UNCW, Northeastern and Towson. CAA football has a mix of all-sports members and football-only members.

If passed, the increase would take effect immediately. The current exit fee is $250,000.

Georgia State beat the proposed increase by announcing Monday that it was leaving the CAA in 2013 to join the Sun Belt Conference, where the Panthers will play in the Football Bowl Subdivision.

Georgia State will continue to play the CAA next season in the lower-level Football Championship Subdivision.

By: TIM PEARRELL, Richmond Times-Dispatch
http://www2.timesdispatch.com/sports/sport/2012/apr/10/caa-postpones-vote-exit-fee-ar-1831832/