Big 12 meetings in Kansas City concluded Friday, but the league voted to shell out a bit more money to to conference teams with lower revenue.
Around half (57 percent) of conference revenue had been distributed equally, but after this week, that number will jump to 76 percent.
The remaining 24 percent of television revenue is doled out according to each team's television appearances. The change passed via a unanimous vote.
From the Associated Press:
Commissioner Dan Beebe declined to speculate exactly how much this will mean to lower-revenue members such as Kansas, Baylor, Iowa State and Kansas State. But he agreed it will be "millions" given the new $1.17 billion football deal with Fox taking effect in 2012.
"The important thing is we're dealing with a lot more revenue, so everybody feels good about the contract and giving us the flexibility and resources to be more competitive," said Missouri chancellor Brady Deaton. "And there's also the growing recognition that to be a strong conference, we've got to have every member be strong and competitive in an ongoing basis in all sports."
Lots more on this next week, including what exactly it means and the circumstances surrounding the change. The new television deal will mean big money, but at last year's meetings, the administrators agreed to keep the current revenue sharing formula, without expounding on how much a change was discussed. Here's a look at how money was previously distributed.