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A&M regents to meet Monday over Big 12 settlement

Mike Slive, Bernie Machen, R. Bowen Loftin AP

Even though Texas A&M is officially exiting the Big 12 and entering the SEC beginning on July 1 — if you’d like to cringe at revisit the Aggies’ first conference schedule, feel free to do so HERE — the school still has to negotiate their buyout from the Big 12.

Yep, not out of the legal woods just yet.

According to A&M’s Board of Regents site, the group will meet Monday by phone to consider “authorization for the president of Texas A&M University (R. Bowen Loftin) to negotiate and execute a settlement agreement with the Big 12 Conference and its members.”

You can read the agenda, which consists of only that item, for that Monday meeting HERE.

The move is pretty standard stuff; the BOR gave Loftin permission to explore conference affiliation back in August when conference realignment 2.0 was building up steam.

The negotiated settlement is one of the last hurdles A&M needs to get past before it can head for its new conference home. Because of the timing of the notice A&M gave the Big 12 about its intentions to leave, Big 12 Bylaws state the school would have to relinquish at least 90 percent of its conference revenue payout to the Big 12. That number has been reported to be in the ballpark of $30 million.

Which brings us to the permission by the board for Loftin to negotiate a settlement.

(Tip of the cap: Brent Zwerneman of the San Antonio Express-News)

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11 Responses to “A&M regents to meet Monday over Big 12 settlement”
  1. lemmam says: Jan 20, 2012 3:40 PM

    Gig ‘em Aggies!

  2. thatobnoxiousguy says: Jan 20, 2012 3:43 PM

    OU owns the Big 12
    and
    Mizzou is gonna show that they are in the top third in the SEC

  3. harleyspoon says: Jan 20, 2012 4:21 PM

    The ags are going to get gigged!

    Yeah, OU really looked like it owns the BigXIII…Yeah, right!!!

  4. harleyspoon says: Jan 20, 2012 4:22 PM

    Maybe the Big XIII but not the Big XII…

  5. wvuandsteelers says: Jan 20, 2012 4:22 PM

    Mizzou in the top third of the SEC. HA!

  6. clonefan says: Jan 20, 2012 4:27 PM

    Anyone else think the ATM on the side of the helmet is appropriate?

  7. raidafan says: Jan 20, 2012 5:08 PM

    Why would the Big12 take a penny less than the 30 million. The Aggies (and Mizzou) have no leverage. They are contracturally obligated to pay the money and have already committed to the SEC. They are past the point of no return so why are they now trying to negotiate?

  8. saints97 says: Jan 20, 2012 5:39 PM

    Because the Big 12 could have been in breach of contract with them. They promised X amount of dollars, and came in way under. They also potentially breached some other duties.

    Those types of things are very expensive to litigate, for both sides, so it is better for everyone to just find a number in the middle, shake hands, and part ways.

    That is just the way big business works.

  9. thefiesty1 says: Jan 20, 2012 6:01 PM

    Are they going to beg to stay in the Big 12 now that they’ve FINALLY figured out that they can’t compete in the SEC? I realize they are the AGGIES, but they may have figured out that they shot their wad too soon and and have made a BIG mistake.

  10. burntorangehorn says: Jan 20, 2012 6:27 PM

    saints97 says:Jan 20, 2012 5:39 PM

    Because the Big 12 could have been in breach of contract with them. They promised X amount of dollars, and came in way under. They also potentially breached some other duties.

    Those types of things are very expensive to litigate, for both sides, so it is better for everyone to just find a number in the middle, shake hands, and part ways.

    That is just the way big business works.
    =================================
    That’s what they say: if a case goes to trial, it’s a failure. This will be settled. However, I’m not aware of any alleged breach on the part of the conference, which granted aggie the disproportionately high share of money returned in the Nebraska and Colorado exit fees. What breach?

    fiesty–the Big 12 was the strongest conference in 2011. The SEC is often the strongest. Mizzou and aggie probably have about the same chances in either conference.

  11. mrslay1 says: Jan 21, 2012 8:10 PM

    Mizziry… since they are in the east they can maybe beat Kentucky or Tenn next year while they are rebuilding. The aggites can only hope for a win at Ol Miss. Good for them they get to play each other so one of them get 2 wins:-)

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