Big 12 Conference Reaches Financial Agreement For Departures Of A&M, Missouri
The Big 12 Conference yesterday announced it has reached agreements with Texas A&M and Missouri regarding the schools' withdrawals from the league, effective June 30. The Big 12 will withhold an estimated $12.4M from both A&M and Missouri's projected distribution for FY '12. A&M will receive a portion of the Big 12's television contract with Fox Sports, as well as other concessions. Missouri agreed to waive any claim to money from the TV contract and pay the Big 12 for its share of the cost of officiating expenses for the ’11-12 athletic year, approximated at $500,000 (THE DAILY). In K.C., Terez Paylor notes the “timing of [the] schools’ withdrawals played a role in that determination.” A&M announced it was leaving the Big 12 on Aug. 31, while Missouri made its announcement on Nov. 6. The latest Big 12 settlement “comes two weeks after West Virginia came to terms with the Big East on the Mountaineers’ departure, which allows them to join the Big 12 next school year.” West Virginia will pay the Big East "$20 million with some $9 million coming from the Big 12” (K.C. STAR, 2/29). A&M said that the Big 12 buyout “will be $9.31 million, almost exactly the same as Nebraska’s $9.255 million last year on its way to the Big Ten.” While the Big 12's total exceeds A&M's figure, a school official said that “the actual number is $9.31 million, once items like direct payments from the NCAA, bowl payouts, conference office expenses and officiating reimbursements are factored in” (CHRON.com, 2/28). In St. Louis, Vahe Gregorian reports MU Chancellor Brady Deaton reaffirmed that Mizzou “will not apply any student or state funding toward the loss and, in fact, will pay it all through athletics” (ST. LOUIS POST-DISPATCH, 2/29).
THE SWITCH COSTS FANS: In Dallas, Sean Lester noted Texas A&M Monday announced season-ticket pricing for the upcoming football season -- $225 "for TAMU student seating, $450 for bench seating, $485 for armchair seating and $520 for club and suite level seating.” The season-ticket pricing structure “brings the average season ticket for Kyle Field to $360.” The new ticket prices “are higher” than last year’s plans with “the bench, armchair and club/suite level seating options increasing $50 per seat.” The student “football only option will go up $25 from $200 last season” (DALLASNEWS.com, 2/27).