re: The Big Ten’s revenue distributions will top $52 million per school next year

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In late 2008, the Texas A&M athletic department was scrambling to meet an ominous deadline.

The department had less than a year before it was to begin repaying a $16 million loan arranged by previous A&M President Robert Gates and athletics director Bill Byrne. The loan gave the department four years to use university money to shore up budget shortfalls, and the first payment was due in the fiscal year that starts Sept. 1, 2009.

But the department was facing two more years of projected deficit spending, and finance officials expressed concern that something needed to be done, records show.

Interviews with university and athletic department officials, along with e-mails obtained by The Eagle through a Texas Public Information Act request, depict the financial equivalent of a frantic fourth-quarter drive to get the athletic department into the black. Officials now expect a balanced budget for 2009-10, but 10 months ago they weren't so optimistic.

Many employees of A&M's division of finance, as well as some athletic department officials, expressed concern about the athletic department's fiscal responsibility. Financial officers cited poor revenue projections, a lack of interest in oversight or controls and an inability to control rising expenses as reasons that the program had problems the past three years.

"In retrospect, it is inconceivable to me how this situation was allowed to fester for so many years without proper action being taken," Elsa Murano, then A&M's president, wrote in an April memo to system regents reviewing the situation.

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Must I do all of aggy's homework? Four years has turned into 10, and still, nearly $10 million remains unpaid.

Aggy AD spending like drunken sailors, but stiffs their creditors.
LINK

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What is owed to the academic side is being repaid as per the original agreement with no lapses.

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Wrong. Four years was the original agreement.