If you're not aware, Nebraska actually has to apply for acceptance into the Big Ten. Of course, they wouldn't apply if it weren't already a done deal.
Speaking to the media following the Nebraska Regents meeting, Chancellor Harvey Perlman said:
"If the Big Ten accepts, it would be our hope to begin competitive integration in 2011 and play one more season in the Big 12."
One more year of the Big 12. Wow.