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The Scarlet Knights will play in the Big Ten next year.
Rutgers and the American Athletic Conference have reached an agreement to allow the Scarlet Knights to depart for the Big Ten in time for the 2014 football season.
There was little doubt Rutgers would play in the Big Ten next year, but there was a question about how much the school would have to pay to leave the American Athletic Conference.
On Wednesday, Rutgers announced it will pay $11.5 million to leave for the Big Ten.
According to the Star-Ledger, the Scarlet Knights have already paid $5 million of the exit fee and the rest will be paid over the next four years.
The Scarlet Knights (along with Maryland) will officialy join the Big Ten on July 1.