There will be no more changes to the Big 12 Conference after the realignment buzz was put to rest in the last 24 hours.
Big 12 Commissioner Dan Beebe's attempt to save the remaining 10 Big 12 schools from breaking up and going elsewhere — mainly Texas — came through with a promise of a new TV deal that would financially benefit the 10 schools in the future.
Texas, Oklahoma and Texas A&M are reported to be guaranteed somewhere between $20 and $25 million per year once the new TV contracts are done in the upcoming years while the remaining other seven schools will at least double their last amounts from the 2009 season. There is not a new deal being made at this point as the schools will remain in their current TV contracts with ABC, ESPN and Fox Sports.
It also gives Texas the chance to pursue its own ‘Longhorn Network,' something that would have been impossible to do under a newly aligned Pac-10 Conference.
"We believe this decision is in the best interest of our student-athletes, coaches and university constituencies," Texas President William Powers said. "We are pleased to continue the traditions we have developed with our partners in the Big 12. We are in this 10-team conference for the long-term."
According to the release from Texas, the university's regents will not need to meet for the decision to carry out. It also states that Texas, Texas A&M, Texas Tech, Oklahoma, Oklahoma State, Kansas, Kansas State, Baylor, Iowa State and Missouri will all remain in the conference although each school is expected to release its own statements on its allegiance to the Big 12 today.
All chances of the Red Raiders or any other schools going to another conference without Texas appears to be dead at this point, although no Tech officials have given a comment.
Texas Tech's regents are meeting this afternoon. Stay tuned to RaiderPower.com for more after the regents meeting this afternoon.
Beebe is expected to make a live statement at 2:30 p.m. today.
Travis Cram is the Managing Editor for RaiderPower.com. Follow his hour-by-hour updates and other conference news on Twitter: http://twitter.com/traviscram.