Every G5 gets 1.8M. (Up from 1.5M in last contract)
Indy's get 360k unless they get in as at-large, which gives that team a participation bonus ($6M)
There are no participation bonus for other schools however. Wazzu and Oregon St are considered Indy now and only get this amount.
(Then there's a certain % split for FCS as well.)
They're talking now that they are just going to stay at 12 for a bit and just vote in the revenue model. Then see how it goes.
The big thing was just to make sure the B1G and SEC weren't sharing equally with ACC/B12.
The other amounts set are:
B1G and SEC (21M per school)
ACC (13M per)
B12 (12M per)
ND (12.5M), eligible for the +6M bonus if they make the CFP in addition to.
G5 (1.8M per school)
Indy (360k per), eligible for the +6M bonus if they make the CFP in addition to.
(For reference the former P5 split all the money equally and every school used to get $5.5M per)
Note: The SEC, B1G, ACC and B12 also had to give up their Orange, Sugar, and Rose bowl guarantees. So this is why the numbers have increased so drastically. When you look at it this way it makes more sense.
But the gap has widened, between the P2 and M2, and between everyone and the G5.
But if we want the cash, and want the access (which we have guaranteed spot for 8 years now to the playoff), we accept it.
This vote also gave the B1G and SEC sole control over how they want the new format to go, should it expand. They don't need approval from anyone but them. However, even if it expands, there's no additional money paid out by ESPN to the schools.
https://www.espn.com/college-football/story/_/id/39738322/conferences-notre-dame-agree-new-playoff-deal