I keep reading how this was a big deal for the Big12 and have seen a couple of people mention here that the SBC needs to do this.

What exactly is it?

It means your school grants its right for broadcast of its athletic events to the conference. People are mentioning in view of realignment because what conference would want your school if your broadcast rights are tied for 2 or 3 years.

Even if you leave the conference, the conference still owns your TV rights until the grant period expires. So if Texas joined the Big 10, all Texas home games would be part of the Big XII package until the grant period ended.

Realistically, the new league and TV partners just try to buy out the rights.

Last year the Big 12 was a dead conference walking after Texas A&M and Missouri bolted for the SEC.

Then came guaranteed television money and the 13 year grant of rights that led to further stability.

Once the other seven teams in the conference realized they had no true options the Big 12 wasn't a dead conference walking anymore. Everyone had to get together and work everything out.

http://m.outkickthecoverage.com/the-acc-...-nears.php