If it feels like we've been here before over the past four months, well, that's because we have. That being said, it appears as if today is truly the day West Virginia can call itself - publicly at least - a member of the Big 12.
However they want to word it, the Big East today released a statement terminating West Virginia from the Big East effective June 30, 2012.
In deciding to terminate West Virginia University’s membership, the Conference took into account the accusations that WVU asserted against the BIG EAST in the lawsuit that is now being dismissed. The Conference also took into account the steps that West Virginia University was willing to take to resolve the litigation, including the payment of an exit fee well in excess of that required by the Bylaws. In light of all of these factors, the BIG EAST Conference felt that it was in its best interest to terminate West Virginia University’s membership and conclude the litigation.
It's about time. The Big 12 officially announced West Virginia as its newest member back on October 28, 2011. Since then, it has been back and forth tug-of-war between West Virginia and the Big East on exactly when that was going to happen.
West Virginia and the Big 12 have maintained all along the Mountaineers would be here for the 2012 season. The Big East, however, wasn't so willing to just let West Virginia off the hook.
The reports of the settlement appear to be as they were reported last week. The Big East will collect $20 million in the form of an exit fee. West Virginia will pay $10 million of that with the Big 12 helping out with the rest, $5 million of which will be paid back by West Virginia once they become full-share members in 2015-2016.
So what all this really means is we will finally get a look at the Big 12 schedule for 2012 sometime later today, hopefully.
In the meantime, welcome West Virginia to the Big 12, again!