The Big 12’s newest member officially has no remaining roadblock in its path to joining the league for the 2012 football season.
In separate announcements, officials from West Virginia and the Big East announced this morning that the lawsuit between the school and the conference over its departure date has been settled.
West Virginia cited a settlement for an unspecified amount. The Big East announced that its directors had voted to “terminate” the school’s membership, effective on June 30.
Either way, the Mountaineers are headed to the Big 12 for on July 1 and schools have begun releasing their 2012 football schedules.
The Associated Press, citing a person familiar with the agreement, reported that the settlement totaled $20 million. The Charleston (W.Va.) Daily mail reported that West Virginia will pay $10 million to the Big East, with another $10 million being kicked in from the Big 12. The paper reported that $5 million of the Big 12 money is a grant and the other $5 million is a loan that West Virginia will repay out of future TV revenues when it becomes a full-share member of the league in 2015-16.
Regardless of the terms _ or the official wording of the departure agreement _ the Big 12 is in the process of releasing football schedules for the 2012 season today. More to come as the day unfolds.
_ Jimmy Burch