The Big 12 Conference Board of Directors announced adoption of a position to equally distribute all conference related distributable revenue to include Tier I and II football television, men's basketball television and NCAA men's basketball tournament revenues. This action becomes effective after each member institution commits a grant of rights to the Conference for its Tier I and II television rights for at least six years.It is recognized by the Board that each member is directed by institutional policy relative to pursuing its grant of rights and that process will commence expeditiously at the institutional level.The Board is encouraged by the number of institutions indicating interest in the Big 12, which reflects positively on the standing of the Conference within intercollegiate athletics. The Board also looks forward to considering the recommendation of the expansion committee regarding future membership options.