Big 12, Texas A&M, Missouri announce settlement details

[coyotes_geek]

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.
"We are pleased to have these issues resolved and we wish the Big 12 and its continuing member institutions the best in the future," University of Missouri Chancellor Brady Deaton said.

Big 12 Interim Commissioner Chuck Neinas said Tuesday in a statement that the agreements were reached "though a collegial, respectful process among the Conference, its institutions," and the departing schools.

Texas A&M will receive unspecified benefits from the Big 12's new television contract with Fox Sports and "certain other concessions."

"We appreciate the Big 12 working with us on a quick and amicable settlement," said Texas A&M President R. Bowen Loftin, who indicated that the bottom-line financial impact of the withdrawal settlement for the university will be $9.31 million.

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.

"We are pleased to have these issues resolved and we wish the Big 12 and its continuing member institutions the best in the future," University of Missouri Chancellor Brady Deaton said.

The Big 12 is adding TCU and West Virginia next season to replace Texas A&M and Missouri. 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 next football season.

http://www.usatoday.com/sports/college/story/2012-02-28/big-12-settlement-missouri-texas-am/53292598/1

[DesignatedT]

Must be some mistake. We were supposed to be paying 30 million

[coyotes_geek]

This must just be the down payment. There's no logical reason why A&M shouldn't be paying 3-4 times what Nebraska and Colorado paid to leave.

[benefactor]

http://www.sportswearhouse.com/store/media/mdmaggies.jpg

Have fun in the SEC.

[leemajors]

cool, maybe now we can move on?

[Sisk]

http://www.sportswearhouse.com/store/media/mdmaggies.jpg

Have fun in the SEC.

Have fun visiting Lubbock, Waco, and Morgantown.

[ChumpDumper]

Have fun visiting Lubbock, Waco, and Morgantown.Kinda like going to College Station.

[leemajors]

People talk about being a mid-major, but it's unbelievable the reception we get when we talk to California high schools and California junior colleges.

It was better here, how we've been received, than it was when we got to Texas A&M. That's not B.S.

When we got to A&M, high school coaches wanted to give us their I-AA players. Here it's been the opposite. Recruiting for me has been one of the most encouraging things for me as we go into spring.

-- Former Texas A&M linebackers coach Nick Toth on recruiting at Fresno State versus Texas A&M. Toth left for Fresno State when former Aggie defensive coordinator Tim DeRuyter took the job.

[DesignatedT]

Shows you how bad Fran fucked our program up.

[Thompson]

Shows you how bad Fran fucked our program up.

Yeah, most people seem to lay the blame at his doorstep. Sumlin seems to be doing well so far though, so hopefully we're trending up now.

[Vito Corleone]

Sumlin is in the honeymoon stage. Just wait til aggsy become the SEC whipping boy and your getting bent over by Mississippi State.

I consider 5 wins next season success for aggsy.

[johngateswhiteley]

not too bad. i am thinking A&M ends up 7-5 next year, and would be stoked at 8-4..

[DesignatedT]

Seeing that Byrne scheduled two FCS opponents we will need 7 wins to be bowl eligible so it's 7-5 or bust IMO.