Rutgers to pay AAC $11.5M in move to Big Ten

Rutgers will pay $11.5 million to the American Athletic Conference as part of an agreement that will allow the school to enter the Big Ten this summer.

Rutgers has already paid $5 million to the AAC, including revenue withheld by the conference. The school also agreed to drop a lawsuit challenging the conference's exit fee. Rutgers said the conference was asking for $15 million from the school.

Rutgers officially withdrew from what was then called the Big East on Nov. 21, 2012, when it accepted an invitation to join the Big Ten. The Big East changed its name to the American Athletic Conference last year.