Colorado leaving Pac-12 and returning to Big 12

— Colorado is leaving the Pac-12 to return to the conference the Buffaloes jilted a dozen years ago, and the Big 12 celebrated the reunion with a two-word statement released through Commissioner Brett Yomark: "They're back."

"The landscape of collegiate sports is ever-evolving, and the University of Colorado Boulder has determined the Big 12 is the best future fit for our athletic teams," CU President Todd Saliman said after the board of regents voted 9-0 in a special remote meeting Thursday to approve the conference switch in 2024.

Colorado is expected to take in $31.7 million in annual television revenue over the course of the Big 12's new deal, but Chancellor Philip DiStefano and Athletic Director Rick George insisted that money wasn't the only factor in CU becoming the first Power Five school to return to the conference it had left.

"A decision this big has to do with a lot more than just money," George said, emphasising that the Buffaloes will get greater exposure playing in earlier time slots and by returning from road games at a more reasonable hour.

"CU Boulder is a national university, and by spanning three time zones, the Big 12 is very much a national conference," added DiStefano. "The national exposure that joining the Big 12 provides will shine a spotlight not only on our incredible student-athletes, but also on our groundbreaking research that really changes the world."

While some of the regents expressed disappointment about leaving the Pac-12, they said the shifting sports landscape left CU no option but to rejoin the conference where they were a founding member before heading West in 2011.

Colorado becomes the third school to leave the Pac-12 in the last year, joining UCLA and USC, which are joining the Big Ten next year.

One lure for the Buffaloes bolting the Big 12 in the first place was the school's large West Coast alumni base, a factor mitigated by the impending departures of the Trojans and Bruins.

"The Pac-12 is a great conference with vital institutions and it was a privilege to be a member for the last 12 years," DiStefano said. "While it's difficult to leave, we're excited about what the future holds for CU Boulder as we start our next era in the Big 12."

Big 12 presidents and chancellors voted unanimously Wednesday night to accept Colorado as a new member, clearing the way for the school to leave the Pac-12 and rejoin its former league, a person with knowledge of the meeting told The Associated Press on condition of anonymity because the Big 12 was not making its expansion plans public.

Pac-12 presidents and chancellors, athletic directors and Commissioner George Kliavkoff were scheduled to convene Thursday to discuss the next moves for the conference, two people with knowledge of the meeting told AP on condition of anonymity because the conference is not making its internal moves public.

Big 12 Commissioner Brett Yormark has spoken for months about his desire to expand the conference and add schools in the Mountain and Pacific time zones. A second person familiar with the Big 12's expansion aspirations, also speaking on condition of anonymity, told AP the school and league have been in contact for more than a month about a potential departure from the Pac-12.