LINCOLN, Neb. (AP) — Nebraska's departure from the Big 12 Conference will cost the university more than $9 million.
The Big 12 and the university announced Tuesday a settlement in which the conference will withhold $9.255 million from the estimated $19 million in revenues that would have been distributed to Nebraska the last two years the Cornhuskers are in the Big 12.
Nebraska becomes an official member of the Big Ten on July 1, 2011.
Athletic director Tom Osborne said the long-term benefits of entering the Big Ten makes the settlement a "very good investment."