The most valuable revenue given to the Big 12 will be shared equally once teams commit to the Big 12, the conference announced on Monday.
That includes Tier 1 and Tier 2 media revenue, but Big 12 interim commissioner Chuck Neinas said Monday that Tier 3 media rights and the revenue from them will remain with the schools.
The football and men's basketball revenue from Tier I (nationally televised games on ESPN/ABC/Fox) and Tier II (Big 12 network games, produced by ESPN Regional) contracts will take effect once each of the nine school commits to the grant of rights for at least six years.
Neinas said Monday that granting those media rights for longer than six years is an option that's been discussed and still on the table, but for now, schools must only commit rights for at least six years.
The previous distribution was based on television appearances, and thus a larger percentage for the teams being televised.
If all nine schools sign off on the agreement, it would end speculation that Missouri would bolt to the SEC.
Other conference revenue that will be shared equally includes money from the NCAA Tournament in basketball.
Tier 3 money includes media rights and revenue from the Longhorn Network, which is co-owned and operated by ESPN.
The motion was passed unanimously at a meeting of the Big 12 board of directors on Sunday. Missouri chancellor Brady Deaton is the chairman of the board of directors.
Lots more on the blog later today from Neinas' session with the media this morning.