Overview

• Michigan and USC trustees aligned Tuesday on concerns that the plan offers short‑term cash without addressing rising costs and risks selling equity in conference media rights.
• The framework would spin off Big Ten Enterprises to hold leaguewide media and sponsorship deals through 2046, with UC Investments taking a 10% minority stake.
• Upfront distributions would be tiered in the nine‑figure range per school, with larger brands projected above $150 million and some reports placing top payouts near $190 million.
• Conference leaders circulated 200‑plus pages of governance documents and tentatively planned a presidents’ call for Thursday, but no official vote has been scheduled and approval must be unanimous under current terms.
• Penn State’s near‑$50 million coaching buyout has sharpened debate over using the cash infusion, as some members favor alternatives such as securitization or traditional debt while others cite fiscal relief and stability, particularly for Washington.