IRVING, Texas -- The Big 12 announced distributions of $198 million to its 10 member schools for the 2012-13 school year on Friday, the final day of the league's spring meetings.
Eight Big 12 schools will receive $22 million, while newcomers TCU and West Virginia will receive half shares of $11 million. Those terms were part of both schools joining the Big 12 back in July 2012.
The $198 million and $22 million per school are both conference records. The conference revenue is tallied from the Big 12's media rights deals with ESPN/ABC and Fox Sports as well as revenue from bowl games and the NCAA men's basketball tournament. The money does not include revenue from universities' Tier 3 media rights, which can be used to earn revenue as each school sees fit.
"We'll get a pretty significant ramp-up from here on out," Big 12 commissioner Bob Bowlsby said. "That moves up this next year due to a signing bonus from ESPN, and then after that, the new TV deal and the Champions Bowl kicks in."
The Big 12 just completed the first year of its 13-year grant of rights deal with ESPN/ABC and Fox Sports, and Bowlsby said the conference's members should be earning more than $40 million per year by the end of that contract.
TCU and West Virginia will receive 67 percent shares in the 2013-14 school year, 84 percent shares in 2014-15 and full shares in 2015-16.
That number could reach $30 million per school soon as the money from the conference's media rights deals escalates later in the contract, and the Big 12 will distribute approximately $4 million more once the contract from its Champions Bowl agreement with the SEC begins.
"We're happy. We're happy with our equal share," said Texas president Bill Powers, who spoke before Bowlsby but deferred the official announcement to the league commissioner.
The $198 million is $15 million more than the Big 12 distributed in 2011, and the $22 million is $3 million more per school.