The departing schools will have $5 million withheld during the 2024 fiscal year for a total of $50 million under the deal announced Monday. The departing schools also will pay a $1.5 million 'supplemental contribution' to the conference.
The departing members will not be entitled to any revenue generated after this year and will have no 'vote, direction input or other power with the conference's use, allocation of expenditure of the supplemental contribution.'
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