Nebraska and Big 12 officials have agreed that the conference will withhold $9.255 million in revenues eligible to be distributed to the school during the 2010-11 school year as the Cornhuskers’ withdrawl settlement for joining the Big Ten, effective in the 2011-12 school year.
The agreement, pending final approval, was announced today. Nebraska will receive an additional $500,000 if it is one of two Big 12 teams to play in a BCS bowl game this season.
In a statement, Big 12 commissioner Dan Beebe said the agreement is one “that all parties believe is fair.” In a separate statement, Nebraska chancellor Harvey Perlman called the agreement “a fair settlement of our disagreement regarding the appropriateness … of imposing any monetary fee on the university for withdrawing from the conference.”
_ Jimmy Burch