Iowa Board of Regents President David Miles released a statement Monday morning regarding the future of the Big 12 and its impact on Iowa State.

In the statement, Miles said the fate of the Big 12 “depends on decisions that will be made by each of its member institutions,” referring to Nebraska and Colorado’s decision to leave the conference, as well as the potential departure of five other schools — Texas, Texas Tech, Texas A&M, Oklahoma and Oklahoma State.

Here is President Miles’ complete statement:

“The State of Iowa has three great public universities. Today the university most on our minds is Iowa State. With the departure of two schools from the Big 12 Conference in as many days, we share the concerns of Iowans across our state with respect to the potential impact on Iowa State.

The Board of Regents is extremely proud of Iowa State. It is an outstanding academic and research institution with a proud history of student-athletes succeeding in the classroom and in competition. And, the Board has every confidence in the leadership of President Geoffroy and Athletic Director [Jamie] Pollard as the institution navigates what is obviously a very challenging period for Iowa State.

The University of Nebraska will be a solid addition to the Big Ten Conference. Still, its decision increases the pressure on the Big 12 and adds to the challenges facing Iowa State. Whether the Big 12 stays together depends upon decisions that will be made by each of its member institutions. As Iowa State evaluates its options, this Board will work closely with President Geoffroy and Athletic Director Pollard to achieve the best possible outcome for ISU athletics.

All Iowans, not just Cyclone fans, have a stake in the continued success of Iowa State University. On behalf of the Board, I want to thank all of those who have contacted us to communicate their support for Iowa State and to share their suggestions. Your continued support for Iowa State in the weeks and months ahead will be crucial.

Despite the challenges of the moment, we remain confident that Iowa State’s best days lie ahead — in the classroom, in the research lab and on the field of athletic competition.”