As we mentioned in an article last week, the Big 12 was on the verge of collapse as Colorado and Nebraska fled the conference for the Pac 10 and Big 10, respectively. We mentioned then that negotiations hinged on Texas’ decision. If Texas left it would be for a lucrative new TV deal. If they stayed, it would likely involve a better satellite TV deal for them.
The realigning came to a quick end this morning as the Big 12 and Texas reached a deal that, not surprisingly, involved a new TV deal.
Texas has stated its formal intention to stay in the Big 12, all but assuring that no more schools leave the Big 12.
The details of the deal are not well known, but speculation shows that each of the teams left in the Big 12 will receive more money per year than they have been receiving. Furthermore, Texas will be free to pursue its own satellite TV network.
Texas is very likely to create their own television network and that network is expected to be widely popular throughout the state. UT athletics are well followed in the state and the freedom to create a Texas satellite TV channel could mean a huge windfall for the University.