The Mountaineers, as part of their agreement to join the league and pay back loans made by it, should get approximately $11 million in payments. Fellow newcomer TCU is also set to receive the same amount. The remaining Big 12 schools will get approximately $22 million each.
Commissioner Bob Bowlsby said Friday that the conference will distribute $198 million to its 10 schools, a bump from $183 million the previous year.
Bowlsby said at the end of the league's meetings that amount will grow in the future when a new television contract goes into effect, plus money from Sugar Bowl matchups against a top SEC team. Estimates of the per team payout in future years have ranged to as much as $40 million per team.
The revenue doesn't include third-tier broadcast rights, such as Texas' agreement with ESPN for the Longhorn Network. West Virginia is in the process of bidding out rights to its Tier III rights, which also including advertising and other sponsorship opportunities.
West Virginia's shares of the payout are scheduled to escalate to 66%, 84% and 100% over the next three fiscal years.