Multi-Million Dollar Payoff to Leave Big 12
IRVING, Texas (AP) — Texas A&M and Missouri have agreed to pay $12.4 million each to leave the Big 12 and join the Southeastern Conference in July.
The league announced the agreements Tuesday.
Texas A&M will receive unspecified benefits from the Big 12’s new television contract with Fox Sports and “certain other concessions.” However, Missouri waived any claims to revenue from the TV deal, which takes effect in July, and agreed to pay the Big 12 another $500,000 to cover officiating expenses for 2011-12.
The Big 12 is adding TCU and West Virginia next season. The Mountaineers and the Big East settled competing lawsuits earlier this month, with the Big East receiving $20 million from the school and the Big 12 for West Virginia to join the Big 12 next football season.
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