Missouri’s and Texas A&M’s buyout for leaving the Big 12 will be $12.41 million per school. That’s a dollar figure that was agreed upon by lawyers for the schools and the conference. The Big 12 bylaws state that universities that provide less than 12 months notice of their planned departure are subject to having 90% of their conference revenue withheld. That is estimated at close to $30 million for each school.
The Mizzou buyout is higher than what it cost Nebraska and Colorado in 2010. NU settled on $9 million, Colorado on $6 million, but each school gave the Big 12 more than 12 months notice. Again, at the time, Big 12 bylaws stated Nebraska would have to pay the conference close to $20 million.
“we are pleased to have these issues resolved, and we wish the Big 12 and its continuing members the best in the future,” MU Chancellor Brady Deaton said in a news release issued by the Big 12. Missouri’s athletic department did not comment any further and A.D. Mike Alden is in Nashville today for a meeting with the other Athletic Directors from the SEC.