It's going to be the Pac-12 in 2011.
Colorado will surrender $6.863 million in Big 12 revenue in order to join the Pac-10 on June 30, 2011. It has been previously announced that Utah would join the Pac-10 in 2011.
The Buffaloes also got a better deal than Nebraska, which previously agreed to have $9.255 million of its conference revenue withheld due to its 2011 departure for the Big Ten. That number would fall to $8.755 million if Nebraska was one of two teams in the Big 12 to qualify for a BCS bowl game.
What this means is the new Pac-12 will start play in 2011 with two divisions and a conference championship game, instead of playing one year as an 11-team conference.
Of course, the breakdown of those divisions as well as how the championship game will be played -- neutral site? home field of No. 1 seed? etc. -- have yet to be decided.
Those issues will be hashed out among school and Pac-10 administrators in October. And, obviously, the 2011 schedules will have to be tweaked.
The Pac-10 released a statement:
"We are very excited that Colorado will be joining the Conference in 2011," Pac-10 commissioner Larry Scott said. "Our plans all along were for them to join the Conference in 2012 so this puts the Pac-12 ahead of schedule, which is great news. With Colorado and Utah coming on board next year we are tremendously excited about the future of the Conference."