Big 12 agrees to dish out more cash for members with loss of Nebraska, Colorado
With former members Nebraska and Colorado moving on to the Big Ten and Pac-12, respectively, the new, 10-team Big 12 will divide more television revenue amongst its members.
University presidents and chancellors voted today during Big 12 league meetings that every member would equally split 76 percent of football and basketball TV dollars. Prior to the decision, the league was splitting 57 percent of the TV revenue between 12 members.
Texas, Texas A&M and Oklahoma will still be making a sizable chunk of change, but percentage-wise, they will be making the same as the seven other members.
The other 24 percent of the television revenue will be distributed among the members according to established criteria, including number of television appearances, quality of competition and willingness to move games to accommodate television slots.
Big 12 commissioner Dan Beebe wouldn’t elaborate on specifics, but said lower revenue schools such as Kansas, Kansas State, Iowa State and Baylor would receive “millions” more with a $1.17 billion TV deal with Fox beginning in 2012.
“The important thing is we’re dealing with a lot more revenue, so everybody feels good about the contract and giving us the flexibility and resources to be more competitive,” said Missouri chancellor Brady Deaton. “And there’s also the growing recognition that to be a strong conference, we’ve got to have every member be strong and competitive in an ongoing basis in all sports.”