It was a costly decision.

The Big 12 has issued a $500,000 institutional fine to the schools for opting out of their participation in the league’s bowl pool.

The Big 12 wrote in a news release: “While the Conference acknowledges the difficult timing around coaching changes, the Big 12 is responsible for fulfilling its contractual obligations to its bowl partners. The Big 12 considers the matter resolved and will have no further comment.”

In a busy week for coaching changes and rumors, Iowa State lost head coach Matt Campbell to Penn State and named Washington State’s Jimmy Rogers to replace him. Kansas State’s Chris Klieman unexpectedly retired and was replaced by Texas A&M offensive coordinator Collin Klein.

KSU athletics director Gene Taylor released this statement earlier in the week: “Following our recent coaching change and conversations with our player leadership and Commissioner (Brent) Yormark, I determined that we will not accept a bowl invitation on Sunday.”

ISU AD Jamie Pollard released a similar statement: “The administrative staff & coaches respect & support the players decision. Our student-athletes have had an incredible season & we are grateful for their leadership as we worked through this process w/them today.”

The Big 12 is contracted to fill spots in the following bowl games: The Valero Alamo Bowl (Dec. 30), the Pop-Tarts Bowl (Dec. 27), the Kinder’s Texas Bowl (Dec. 27), The AutoZone Liberty Bowl (Jan. 2), the Rate Bowl (Dec. 26) and the Radiance Technologies Independence Bowl (Dec. 30).

With Texas Tech picked as the No. 4 seed in the College Football Playoffs, current bowl eligible teams in the Big 12 include BYU (11-2), Utah (10-2), Houston (9-3), Arizona (9-3), Arizona State (8-4), TCU (8-4) and Cincinnati (7-5).  Iowa State finished 8-4 after a 5-0 start and Kansas State was 6-6.