MORGANTOWN, W.Va. — West Virginia University announced Tuesday it has settled a lawsuit with the Big East for an unspecified amount, clearing the way for the conference power Mountaineers to join the Big 12 in July in time for the fall football season.
Athletic Director Oliver Luck said the terms of the deal were confidential and WVU wouldn’t release details. But Luck said no state, taxpayer, tuition or other academic dollars will be used in the settlement.
A person familiar with the agreement said the settlement totaled $20 million but did not know how much money would come from the university and how much the Big 12 may contribute. The person spoke on condition of anonymity because financial terms were not announced with the agreement.
Luck said the funding will come only from private sources and money that athletics raised independently. WVU has already paid half of the required $5 million exit fee.
Luck said WVU should get about $18 million to $19 million a year in television payouts, about double what it gets from the Big East. Payments are being prorated for the first three years at 50 percent, 67 percent and 87 percent, he said, reaching 100 percent in the fourth year.
“It’s a very healthy television payout, and it’s important we maintain our self-sufficient status,” Luck said. “With this move, we’ll be in an excellent position to do so.”
The Big 12 released its football schedule about an hour after the announcement. West Virginia makes its Big 12 debut Sept. 29 at home against Baylor.
West Virginia’s departure leaves the Big East with just seven football teams for the 2012 season, potentially opening the door for Boise State to join the league a year ahead of schedule.
The Broncos would owe the Mountain West between $7.5 million and $9 million to go to the Big East this fall. The WAC is willing to take Boise State’s non-football sports. President Bob Kustra said it is “too late” to make the move, but discussions are ongoing.
“There are challenges on the table right now,” Big East Commissioner John Marinatto said. “... We’re looking at various scenarios in order to address that. We have plans in place to deal with each possibility.”
