The Big 12 Conference released terms on Tuesday regarding Nebraska and Colorado’s withdrawal from the 15-year-old athletic conference.

The Big 12 will withhold $9.255 million from Nebraska this year and $6.863 million from Colorado from revenues otherwise distributed to the universities. The announced terms also allowed Colorado to depart a year earlier than had been previously planned, leaving the Big 12 at 10 teams to start the 2011-12 season.

“We’re in a pretty stable position right now with 10 teams,” said Big 12 commissioner Dan Beebe in a teleconference Tuesday night. “But we will keep our ear to the ground…if anything shifts, we’ll be cognizant of it.”

The monies withheld from Nebraska and Colorado were pulled partially from June’s distribution for the 2009-10 athletic season’s and the remainder withheld from this season’s revenue base.

The University of Nebraska-Lincoln will become a member of the Big Ten Conference and Colorado a member of the Pac-10 Conference, based in the west coast, effective June 30, 2011.

“The University of Nebraska believes this is a fair settlement of our disagreement regarding the appropriateness in this instance of imposing any monetary fee on the university for withdrawing from the conference,” said Nebraska chancellor Harvey Pearlman in a news release.

Nebraska will receive an additional $500,000 if it is one of two Big 12 teams to play in a BCS football game at the end of the season.