The Big 12 announced this afternoon the terms of their settlement agreement with Texas A&M and Missouri. As you might expect with two teams leaving the conference at the same time, the details of both agreements were nearly identical.
Texas A&M's settlement agreement:
The Conference will withhold an estimated $12,410,000 from Texas A&M's projected distribution for fiscal year 2012. However, the parties agreed that A&M will receive a portion of the benefit received by the Big 12 Conference from the signing of its television contract with Fox Sports, scheduled to commence July 1, 2012, and certain other concessions.
Missouri's settlement agreement:
The Conference will withhold an estimated $12,410,000 from the revenues otherwise distributable to the University. In addition, Missouri agreed that it would waive any claim to any of the benefits received by the Big 12 Conference from its television contract with Fox Sports, scheduled to commence July 1, 2012. Also, Missouri agreed to pay the Big 12 Conference for its share of the actual cost of officiating expenses for 2011-12 athletic year as it has done in previous years, in the approximate amount of $500,000.
And with that, decades if not a century of history and rivalries are now dead. Good job fellas! Now don't let the door hit ya where the good lord split ya.