The downfall of the Big 12 is about to be underway, as ESPN.com is reporting that Nebraska has officially accepted an invitation to join the Big Ten.

Nebraska departs the Big 12 to become the 12th member of the Big Ten. Earlier this week, a source told ESPN.com that no other schools are imminent to accompany the Cornhuskers into the Big Ten.

The future of the Big 12 is in jeopardy after Colorado agreed Thursday to jump to the Pac-10. The Pac-10 is also reportedly interested in inviting Texas, Texas A&M, Oklahoma, Oklahoma State and Texas Tech to form a 16-team league.

University of Texas regents will meet next week to decide whether the Longhorns will remain in the Big 12 or switch to another conference.

The regents announced Friday that they will hold a meeting by telephone Tuesday for “discussion and appropriate action regarding athletic conference membership.”

Rumor had it that if Nebraska left the Big 12, then the rest of the conference would dissolve. It appears as though the Pac-10 is on its way to being a 16-team conference, although as I wrote yesterday, that doesn’t mean that it’ll implement a championship game. (Which is just a ridiculous notion when you think about it.)

Joining the Big Ten makes a lot of sense for Nebraska, most notably from a revenue standpoint. Big Ten schools bring in $22 million each year thanks in large part to the Big Ten Network, which can now extend its reach once Nebraska comes aboard. The Huskers now have more security in the Big Ten than they did in the Big 12, which was apparently held together by cheese and crackers.

Nebraska and Michigan will finally get to settle the 1997 debate. Too bad nothing will be left of the UM program after Rich Rodriguez gets done burning everything in Ann Arbor to the ground.