Big 12 Statement

Here’s are the terms for Colorado to withdraw from the Big 12, which the conference just announced.

TERMS FOR COLORADO WITHDRAWAL FROM BIG 12 CONFERENCE ANNOUNCED

IRVING, Texas — The Big 12 announced it has reached agreement with the University of Colorado regarding its withdrawal from the Conference effective June 30, 2011, subject to final approval from the member institutions’ respective governing boards.

The Conference will withhold $6,863,000 from the revenues otherwise distributable to the University. Colorado will withdraw from the Conference at the end of the current academic year.

Big 12 Conference Commissioner Dan Beebe stated, “This agreement was accomplished through a collegial, respectful process among the Conference, its institutions, and the University of Colorado that led to a resolution that all parties believe is fair. I appreciate the cooperation of Chancellor Phil DiStefano and others at Colorado. The Big 12 has enjoyed its relationship with CU and wishes it well in the future.”

“The University of Colorado at Boulder was a founding member of the Big 12 and a proud participant in it for 15 years,” said DiStefano. “Even as we leave for an exciting future in the Pac-10 Conference, we value the great friendships and memorable rivalries we have been a part of, and we appreciate the good faith Commissioner Dan Beebe has shown in working with us on our exit from the conference.”

“We are pleased that, with this issue behind us, the Big 12 is poised to begin the transition to its exciting future as a 10-member Conference beginning in July,” Beebe added.

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  • JAG

    6.8 million seems like a lot. I wonder if the Pac-10 is going to “make it up” to Colorado. There is probably more to this deal than a single payment to the Big 12.

  • dtksr1

    You failed to include most of this money is going straight into Texas’ pocket. There are a few schools in that conference that will see none of this money. But they will still kiss Texas’ boots none the less.

  • USCfan

    Hopefully SC wins the appeal, otherwise they won’t be able to participate in the Pac-12′s first ever conference championship game.

  • T4

    The Big 12 is Texas’ play pin, with the Texas football network and control of Beebe, it’s theirs to do with as they please. Oklahoma used to have some pull in the old Southwest Conference because of the old oil money in Tulsa, when that played out in Tulsa and moved to Houston and the Big 12 was created, Texas only kept Oklahoma around for a punching bag.
    You all think the SEC is bad with corruption/NCAA style, Texas has the ultimate “Old Boy Network”. In fact it got three of it’s favorite sons elected President.

  • timmay

    Not to piss in your punch T4 but none of those presidents went to UT. There is Yale, Yale and Harvard and Southwest Texas State Teachers College (LBJ).

    The Bushes, even those born in Texas, have money and power coming from their East Coast elite connections. Texas was like a carving out a new plantation for them, with the families money after going to elite Yankee private schools. Oddly enough, the Bush that went to UT became governor of Florida, not Texas.

    So sure their is old boy networking and corruption but let’s not take it too far.

  • in sheep’s clothing

    T4 – Oklahoma was not a member of the Southwest Conference before the merger of the SWC and the Big 8 – they came from the latter. They competed with Nebraska. The Red River Rivalry used to be an interconference rivalry until the Big12 was formed.