((HT: KOLN/KGIN-TV Lincoln))
The University of Nebraska has reached an agreement with the Big 12/11/10 Conference to finally bail and head to the Big 10/11/12.
The conference will withhold a little over $9-million from the estimated $19 million they could have picked up during the last two years of its time in the Big 12/11/10.
If Nebraska is one of two Big 12/11/10 teams to play in a BCS bowl game, the fee would be reduced by $500,000. The settlement is final pending approval by the Nebraska Board of Regents.
"The University of Nebraska believes this is a fair settlement of our disagreement regarding the appropriateness in this instance of imposing any monetary fee on the university for withdrawing from the conference. We continue to value our ongoing relationships with the institutions of the Big 12 and have great respect for their leadership and the leadership of the conference," said Chancellor Harvey Perlman.
"We feel the long-term benefits of entering into the Big Ten, both academically and athletically, will make this a very good investment," said Nebraska Athletic Director Tom Osborne.
Big 12 Conference Commissioner Dan Beebe said: "This agreement was accomplished through a collegial, respectful process among the conference, its institutions, and the University of Nebraska that led to a resolution that all parties believe is fair. I appreciate the cooperation of Chancellor Harvey Perlman and Nebraska staff. The Big 12 has enjoyed its relationship with Nebraska and wishes it well in the future."
Nebraska will become an official member of the Big Ten/11/12 July 1, 2011.
Kevin Sjuts has the details... thanks to our friends at 1011now.com
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