"The Big 12 Presidents and Chancellors are pleased to welcome TCU to the Big 12," noted Burns Hargis, Chair of the Big 12 Board of Directors and president of Oklahoma State University. "The addition of TCU gives us a prestigious institution with great academics, strong financial support, outstanding athletic tradition, and a perfect geographic fit. We have been working tirelessly to build an even stronger Conference and think this is an extremely positive step."
TCU athletic director Chris Del Conte, who reportedly got teary-eyed while making the announcement, mentioned that the school will take care of the $5M exit fee for joining the Big East for a couple of months through athletic department revenue.
In terms of football schedule, TCU expects to just slide into the schedule that Texas A&M is vacating when they join the SEC.