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Texas Concession: Big 12 Releases Official Report Concerning Expansion, Revenue Sharing

For those wondering when the Big 12 would finally get down to business and come to some sense of an agreement on how to conduct business, well, wonder no more. The Big 12 Board of Directors came together to form an agreement to solve the woes that plague the conference, including the great disparity in conference finances (ahem, Longhorns).

The official statement of the Big 12 reads as follows:

The Big 12 Conference Board of Directors announced adoption of a position to equally distribute all conference related distributable revenue to include Tier I and II football television, men’s basketball television and NCAA men’s basketball tournament revenues. This action becomes effective after each member institution commits a grant of rights to the Conference for its Tier I and II television rights for at least six years.

It is recognized by the Board that each member is directed by institutional policy relative to pursuing its grant of rights and that process will commence expeditiously at the institutional level.

The Board is encouraged by the number of institutions indicating interest in the Big 12, which reflects positively on the standing of the Conference within intercollegiate athletics. The Board also looks forward to considering the recommendation of the expansion committee regarding future membership options.

More commentary will be forthcoming as press appearances will help answer any questions coming from this, but this report is a great step in a direction to stabilize the conference and show Big 12 fans and supporters that the conference is likely here to stay after all.