clock menu more-arrow no yes

Filed under:

Big 12 And Texas A&M Reach Agreement On Exit Fee To Leave The Conference

The Big 12 announced today that it has reached an agreement with Texas A&M officials on what it will cost A&M to withdraw from the Big 12 Conference.

↵

Texas A&M had announced last fall that it was going to discontinue its affiliation with the Big 12, effective June 30 this year, and become a new member of the Southeastern Conference.

↵

Interim Big 12 commisioner Chuck Neinas said the Big 12 will withold an estimated $12.4 million from Texas A&M’s projected revenue distribution for 2012. Under the terms of the exit agreement, however, the two parties agreed that A&M would receive a portion of the benefit received by the conference from the signing of the new television contract with Fox Sports, which will go into effect July 1.

↵

The agreement has been approved by Texas A&M and the governing boards of the Big 12’s eight continuing member institutions, Neinas said.

↵

It is uncertain at this time if similar exit terms will apply to the University of Missouri, which also is leaving the Big 12 for the Southeastern Conference.