It seems this was a very premature proposal, and nobody committed to the idea.
"The move for a vote, s
upported and encouraged by many university administrators at 16 Big Ten schools,. . . " (this does not say all)
"In a statement to Yahoo Sports, a Big Ten spokesperson says “no such vote is scheduled” and that the league “continues to work closely with all member universities to explore a partnership to strengthen and modernize our conference. "
"The latest Big Ten proposal has elicited concerns from an array of university board members, even those outside of USC and Michigan, many of whom say that they’ve been only shown limited pieces of the investment plan and
were told the decision rests not with board members but solely with university presidents and chancellors."
Is Keli Zinn on record as supporting this? I don't recall seeing that?
The Big Ten has signaled to those at Michigan and USC that it is moving forward with the deal, even delivering to each program an ultimatum with a deadline.
sports.yahoo.com
The concept was paused:
The conference was trying to strike the deal with a California pension fund in exchange for a 10% stake in Big Ten Enterprises.
sports.yahoo.com