How TX and OU got out of their steep payments to the Big 12

[Psycho Jim]

Link

Seems like ESPN was so desperate they were putting pressure on everyone and the Big 12 caved

 

[Asphalt.Jungle]

so instead of $160m they got $100-05m and everything was free and clear with no lawsuits challenging bylaw wording.

 

[Gwoz]

Sounds like ESPN intervened on behalf of Texas and Oklahoma to make the move less of a financial hit on them.

 

[goodknightfl]

It was stated that they would pay 100 when they left. Not exactly new news. That was enough for B12 to make FOX whole and basically pay back the $$ the legacy 8 were giving the new 4 schools to play first 2 years. Really both sides wanted them gone, But B12 didn't need them gone. It was fair for everyone involved.

If memory is correct, they would have paid out 79 mil if they had stayed one more year.