Nebraska regents approved a $9.25 million settlement with the Big 12 today over the university’s looming withdrawal from the conference.
Though the exit deal was approved today, Nebraska must first work out its departure from the Big 12. At first, the Big 12 tried to withhold 80 percent of Nebraska’s actual piece of the conference payout for 2009-10 and its forecasted distribution for 2010-11, an estimation of $19.4 million.
Nevertheless, this settlement is a clean break for Nebraska and prevents them from having to settle the situation in court.
If Nebraska is one of two Big 12 teams to play in a BCS bowl game this season, it can decrease its penalty to $8.76 million.
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