Big 12 Presidents Approve Revenue Sharing
Big 12 university leaders have agreed to equally share the wealth from the conference’s most lucrative television deals, if its members agree to lock-up those top-tier TV rights into the league for at least six years.
Missouri is still considering leaving the conference, as their university’s board of curators is scheduled to meet Tuesday in St. Louis. Interim Big 12 Commissioner Chuck Neinas hopes the approval by the presidents and chancellors of equal revenue sharing and a grant of tier-one and tier-two TV rights to the league will help convince Missouri to stay.
“In an objective view, this should be a positive sign for Missouri,” Neinas said during a teleconference with reporters.
Neinas also said he plans to visit with Missouri officials this week, but not before Tuesday’s curators’ meeting.
The revenue-sharing model had been proposed by Texas several weeks ago, but was waiting for a vote by league presidents. Neinas said that school leaders, who make up the Big 12 Board of Directors, voted unanimously in favor of it on Sunday.
Each school must still approve the granting of TV rights, and that’s where the Missouri curators come in.
The Big 12 also plans to move forward with expansion plans, apparently regardless of what Missouri decides.