The Big 12 conference has just released the terms for the University of Nebraska's move to the Big 10 conference in 2011. The Big 12 will withhold $9.255 million from the revenues that would otherwise have been distributed to the university this year. If the Cornhuskers are asked to participate in a BCS bowl this season then they would receive $500,000 of that money back.
Nebraska is set to join a division with Michigan, Iowa, Michigan State, Minnesota and Northwestern while the other Big 10 division will feature Ohio State, Penn State, Purdue, Indiana, Illinois and Wisconsin.
There is a pretty strong chance that we will hear similar news for the Buffaloes over the next few days, possibly as early tonight as the Colorado regents met today and Big 12 commissioner Dan Beebe has scheduled a press conference for 7 pm tonight.