Big 12 to distribute record $364.9 million to schools

IRVING, Texas -- The Big 12 Conference will distribute a record $364.9 million to its 10 institutions for the fiscal year, commissioner Bob Bowlsby announced Friday at the conclusion of league meetings.

That amounts to $36.5 million per school, likely placing the Big 12 third among the Power 5 conferences, behind the SEC and Big Ten but ahead of the Pac-12 and ACC.

Unlike the other leagues, which include Tier 3 revenue from conference networks in their distribution figures, the Big 12's distribution numbers do not include Tier 3 revenue. The Longhorn Network, which is owned by ESPN, pays Texas an additional $15 million per year on average. Oklahoma nets roughly $5 million from its Tier 3 agreements with Fox.

The 6.4 percent increase from last year was boosted by the return of the Big 12 title game, which Bowlsby said gave the league an additional $30 million in revenue. That helped offset the Big 12's one-year loss of the Sugar Bowl, which was part of the College Football Playoff last season. When the Sugar Bowl is not part of the playoff, the Big 12, along with the SEC, has an agreement with the bowl that pays the conference roughly $40 million.