The Big 12 Conference said it wants to equally distribute revenue gained from football and men's basketball among each of its schools as long as members agree to the plan for a minimum amount of years.
The policy to share TV revenues from football and men's basketball, as well as NCAA men's basketball tournament revenues, will be effective after each member school commits a grant of rights to its Tier I and II television rights for at least six years.
"Each institution has its own policies, so each institution has to go through some institutional procedure to get this grant of right approved," interim Big 12 commissioner Chuck Neinas said Monday.
Neinas, who took over when Dan Beebe resigned as commissioner last month, said the conference's board of directors met Sunday.
He announced that an expansion committee has been activated and will begin meeting "some time this week."
The Big 12 will be down to nine members when Texas A&M leaves for the SEC next year, but Neinas said it has already been approached by other schools to fill the void.
"We've been encouraged by the amount of interest that has been generated by other institutions -- I'm not going to name them -- showing interest in the Big 12 Conference," Neinas said.
He said the process of potential expansion would start soon, but there is no timetable on how long it would take and he couldn't say how the procedure will work.
