The University of Texas said it was staying in the Big 12, followed moments later by pledges from Oklahoma, Oklahoma State and Texas A&M to remain in a league that had seemed to be falling apart last week when Nebraska (Big Ten) and Colorado (Pac-10) decided to leave over the next two years.
In a statement released by the athletic department, Missouri Athletic Director Mike Alden, said, “We’re excited about the Big 12 Conference and for its continued growth. The University of Missouri has certainly prospered during its time in the Big 12, and we are looking forward to future opportunities in the years ahead.”Texas met with the other nine schools in the Big 12 about a TV deal that would keep the league intact with its current programs. The Dallas Morning News reported the cable TV deal is with Fox Sports.
Texas decided to stay in a 10-team Big 12 for the foreseeable future, according to Orangebloods.com, could pay upwards of $25 million per year. Texas could earn between $20 million and $25 million annually in television revenue in the reworked deal, including money from its own network. Because the Big 12 has unequal revenue sharing, the deal will mean more money for Texas, Texas A&M and Oklahoma, who all would receive at least $20 million annually from the new deal. Missouri and the six other schools in the Big 12 would make between $14 million and $17 million, doubling what they currently receive in TV revenue.