West Virginia will join the Big 12 for the 2012 season after a lawsuit settlement was reached with the Big East, the school and league announced Tuesday.

The Big East Conference board of directors voted to terminate West Virginia's membership, effective June 30. The vote is conditioned upon WVU fulfilling its obligations under an agreement that resolves the lawsuits between both parties.

West Virginia accepted an invitation in October 2011 to join the Big 12, and sued the Big East in its home state to get out of the league without waiting the required 27 months. The Big East filed its own suit in Rhode Island, seeking to hold West Virginia to the waiting period.

The Charleston (W.Va.) Daily Mail, citing an anonymous source, has reported that the Big East will receive $20 million in the settlement, with WVU contributing $11 million, and the Big 12 covering the remaining amount.

WVU already has paid half of the normally required $5 million exit fee to the Big East.

"The bylaws are the foundation of how the conference governs itself," Big East commissioner John Marinatto said Tuesday. "To have the court in West Virginia acknowledge their validity of enforceability obviously reinforces the premise that the conference is viable moving forward, and in a position to do so."

Continuing to fight West Virginia "would have only made the lawyers happy," he said.