AP reporter Larry Lage is, uh, reporting that ND is taking the money and running:
This is good news for insane people who hate easy road trips and competitive games with glitz disproportionate to the teams participating recently. For me, it is sad. Maybe they'll patch it up at some point in the future.
Michigan now has to scramble for a legit opponent in 2015 and 2016, but at least they can go into that looking for someone who wants a home game in odd-numbered years to help offset the Nebraska/OSU games.
All of this is the Longhorn Network's fault, of course.