Buffs agree to exit fees; will join Pac 12 in 2011
Before the Big XII numbers could reduce by two, there was unfinished business between the conference and those exiting schools. That business was settled with an agreement on Tuesday. And in doing so, the Pac 12 Conference moved closer to existence.
In an act that gives Colorado the green light to move to the Pac 10 in 2011, the Buffaloes and Big XII executives agreed on a monetary settlement of $6.863 million, which is to be withheld from the conference’s distributable revenue. That amount is more than $2 million less than the exit fee Nebraska agreed upon, and the combined total of more than $15 million for both schools is far lower than the $30 million initially reported as the penalty for premature departure.
Completing the final leg of Ralphie’s gallop to the Pacific coast, Colorado regents voted unanimously in agreement to the exit package. With this issue aside, both the Pac 10 and Big XII can move forward with scheduling plans and divisional alignment. The Big XII will be moving to a round robin format, which is the current system in the Pac 10. The new Pac 12, which will also include the addition of Utah from the Mountain West Conference, will split into a divisional format that will feature a conference championship game.
Nebraska will join the Big 10, powering that league to a new total of twelve members.