Texas A&M Prez: Show Me the Money!

Remember that back-door deal that Baylor, Kansas, Kansas State, Iowa State and Missouri made to help keep the Big 12 together (minus Colorado and Nebraska)? Those schools guaranteed Oklahoma, Texas and Texas A&M at least $20 million in conference revenue beginning in 2012-13 if they would remain members of the league.

Big 12 commissioner Dan Beebe said that Texas and Oklahoma have declined the gesture, but Texas A&M wants to make the other schools live up to the promise.

Aggie president R. Bowen Loftin, above, issued the following statement Wednesday:

"A key part of Texas A&M's decision to remain in the Big 12 earlier this summer was the commissioner's commitment that Texas A&M would receive a minimum of $20 million annually in future conference distributions. We remain committed to the conference, and fully anticipate that the Big 12 will honor its commitment to Texas A&M."

The Houston Chronicle reported that Texas A&M is prepared to go to court to get the deal in writing. A high-ranking A&M official told the newspaper that the school would consider leaving for the Southeastern Conference if its demands were not met.

Part of the reason the Aggies are pressing for the money is that the athletic department is in the early stages of paying back a $16 million loan to the university.

Comments

[Kevin McGuire, CFB Examiner]

Interesting to see that this story is not over yet, as expected. Will be fun to watch the Big 12 this season and moving forward!

[bevo]

I am sure Texas and OU want the money but did not want to appear unseemly. Would the Pac 12 be impress if these two institutions appeared to be money grubbers like the Aggies?

BTW, like Kevin, I too am glad the soap opera of the Big 12 Less 2 will continue. The Aggies will threaten to hold their breath if they do not get their way on each issue. Good times.

[il cativo]

I've said it over and over again on this site. The Sooners, and particularly the Longhorns, are not the money grubbers that Nebraska is painting them to be. The fact of the matter is that Nebraska voted in favor of the Big 12 revenue sharing plan every single time, and bolted for greener pastures as soon as the prospect of making MORE money materialized. As for the Aggies, they're just dirt poor and in debt up to their shoulders.

[Mike Wright]

Why are people getting on A&M for expecting what was promised to them in order to stay? If you do not like the deal then blame those that made it. Anyone that thinks the A&M is poor does not know the facts of the $16MM 0% loan from the University. Whatever makes you feel better about yourself and your team.

[rob]

A&M needs the money: http://www.huffingtonpost.com/2010/07/22/texas-am-toilet-paper_n_655364.html

[Mike Wright]

Let's not let the facts get in the way: http://www.forbes.com/2009/12/22/most-vaulable-college-football-teams-business-sports-college-football_slide_19.html