(AP) - The Big East has dropped its lawsuit against TCU.
The conference filed the suit last month in Washington, claiming TCU failed to pay the conference $5 million after the school reneged on an agreement to become a member and joined the Big 12 instead.
Bloomberg News first reported the lawsuit had been dropped. The Big East confirmed it in a statement to the AP on Wednesday night.
The statement says: "TCU has fully discharged its obligations to the Big East and the lawsuit is amicably settled without admission of liability of any party."
TCU agreed in November 2010 to join the Big East this year. The Big East contended TCU agreed to pay $5 million if it didn't. TCU accepted an invite to the Big 12 in October.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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