After CU announced in June it would join the Pac-10 Conference, the move is on its way to becoming reality. Chancellor Philip P. DiStefano helped negotiate a $6.863 million reduction in distributions from the Big 12 this fiscal year, which paves the way for the university鈥檚 sports teams to officially become part of the Pac-10 on July 1, 2011.
The lost revenue was less than half of what the Big 12 originally said it would withhold for CU鈥檚 early exit, and the Pac-10 has agreed to advance CU the forfeited amount in the form of a loan against future conference payouts.
鈥淗aving a mediator really helped,鈥� DiStefano says. 鈥淚 look at mediation like going to the dentist鈥檚 office. You don鈥檛 want to go and you don鈥檛 like being there, but when it鈥檚 done you feel relieved.鈥�
Nebraska, which is also leaving the Big 12 next year for the Big 10, is paying a $9.255 million exit fee.
鈥淥ne thing first and foremost on our plate is how we are going to improve our competitiveness across the board,鈥� CU athletic director Mike Bohn says. The Pac-10 鈥渋s a great conference, and not just in football . . . It鈥檚 a great challenge and opportunity for us. We need to go in there and be competitive right away.鈥�
