West Virginia and the Big East have reached a conditional settlement that will allow the Mountaineers to join the Big 12 in 2012, according to a report by Mike Casazza. The settlement would reportedly net the Big East $20 million, with West Virginia and the Big 12 each paying a portion of the large sum.
Casazza and Jared Hunt broke it all down in a story for the Charleston Daily Mail.
On Thursday, a source close to the negotiations said the additional $9 million would come in the form of contributions from other Big 12 member schools.
In that proposed scenario, WVU's $11 million payment would cover three things: The Big East's $5 million exit fee, Boise State's $5 million buyout fee, and $1 million to match what each Big 12 school is paying.
The settlement matches up with the numerous reports that have trickled out throughout the week. However, West Virginia's ability to leave for the Big 12 would not be contingent on Boise State immediately joining the Big East for the 2012 season. It's unclear if the Broncos will be able to make their move right away, though the Big East is reportedly considering having Syracuse and Rutgers play twice, if Boise State cannot replace West Virginia right away.