The Big East and the West Virginia Mountaineers have reached a $20 million settlement, the Charleston Daily Mail has reported.
Reports indicate that West Virginia will pay the conference $11 million to leave early for the Big 12. Other Big 12 schools will contribute the other $9 million.
According to the Daily Mail, the $20 million includes “The Big East’s $5 million exit fee, Boise State’s $5 million buyout fee, and $1 million to match what each Big 12 school is paying.” That number could increase if the Big East is unable to find a replacement for West Virginia in 2012.
With the Mountaineers departure, the Big East will be down to seven schools which means they will only have six conference games. That is, unless they are able to convince Boise State to move early and play in the Big East in 2012.
The settlement paves the way for West Virginia to compete in the Big 12 starting this fall. The Mountaineers were already included on the Big 12 conference football schedule which was delivered to their TV partners last week.
That schedule should be released sometime today if all reports are accurate. With the additions of TCU and West Virginia, the Big 12 will once again be at ten schools with a nine-game conference slate.