Filed under: Colorado, Big 12, Pac 10
The Pac-10 will be the Pac-12 next fall after all.Colorado has reached a deal to leave the Big 12 after the 2010-11 season and join the Pac-10, effective June 30, 2011. The conference will withhold $6,863,000 from Colorado in revenues that would otherwise be distributed to the school.
With the addition of Utah, that brings the Pac-10 to a 12-team league for the 2011 football season.
The deal was announced Tuesday evening after the Colorado Board of Regents approved the agreement.
In a press release, Big 12 Conference commissioner Dan Beebe stated, "This agreement was accomplished through a collegial, respectful process among the Conference, its institutions, and the University of Colorado that led to a resolution that all parties believe is fair. I appreciate the cooperation of Chancellor Phil DiStefano and others at Colorado. The Big 12 has enjoyed its relationship with CU and wishes it well in the future."
Pac-10 commissioner Larry Scott said the conference is "excited" to have Colorado on board.
"Our plans all along were for them to join the Conference in 2012, so this puts the Pac-12 ahead of schedule, which is great news," Scott said. "With Colorado and Utah coming on board next year we are tremendously excited about the future of the Conference."
Back on Sept. 11, Scott said there was less than a 50-50 chance that Colorado would be able to extricate itself from the Big 12 in time to start next season, citing "financial" reasons.
The Pac-10 will be helping to pick up Colorado's tab with the Big 12.
A Colorado press release indicated that the move will be funded "through Pacific-10 Conference distribution, increased ticket revenue associated with Pac-10 home schedules and through other intercollegiate athletic department operating efficiencies and revenues."
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