Texas A&M will forfeit $9.31 million in Big 12 revenue, completing the final details in its move to the Southeastern Conference for next year.
The settlement details were released Tuesday afternoon by A&M and the Big 12.
As part of the agreement, the Big 12 will withhold the full $12.41 million that A&M was scheduled to receive as part of its conference distribution for the 2011-12 academic year. But under the settlement, A&M will receive its share of NCAA scholarship grants-in-aid, academic support programs and sports sponsorships, as well as officiating fee reimbursement and bowl travel, among other items.
That totals $3.1 million and will take the actual-out-of-pocket settlement to $9.31 million,according to a source familiar with the process.