The Big 12 board of directors announced Wednesday it will withhold 25% of Baylor's revenue from the conference pending the results of an independent review into structural changes as a result of the sexual assault scandal that has engulfed the university for the last year and a half.

The money will be placed into escrow and eventually returned to Baylor, pending the results of the review.

"The board is unified in establishing a process to verify that proper institutional controls are in place and sustainable," Oklahoma president and board chairman David Borensaid in a release.

Baylor removed football coach Art Briles, athletics director Ian McCaw and president Kenneth Starr last May as a result of the Pepper Hamilton law firm's investigation into how the school handled sexual assault allegations.

The school's new leadership has made sweeping changes in the reporting process and Title IX office, but recent law suits against the school have brought disturbing details of the school's athletic culture into public view.

The Big 12 has pushed for increased transparency from Baylor officials, who have only released a summary of the Pepper Hamilton report.