IRVING, Texas (AP) — The Big 12 Conference is distributing a record $426 million of revenue to its 10 schools for the 2021-22 school year.

That is a nearly 25 percent increase over last year and 10 percent higher than its peak before the pandemic. Texas Tech president Lawrence Schovanec, chairman of the Big 12 board of directors, says the league is in a very strong position.

Schovanec says, at the league’s annual spring meetings, the search for a new conference commissioner is on track to be completed by mid-July.