Yes this is my first post but I am a TCU grad that has no dog in the hunt. I am pulling for BYU to get in though because I want a strong conference. The 50% is accurate (pay out was 30.2 million last year) and it is for the life of current contract after that you'll be full members.
I have no idea on the date but there is a ton of smoke about Monday, the date could be wrong but BYU is as near a lock as one gets in Big 12 (assuming BYU agrees to terms).