The reason why Nebraska doesn't receive a full revenue share until around 2015-2017 is that it's a sort of "buy in" to the Big Ten Network. Right now a quick back of the hand calculation puts the Big Ten Network's value at $1 billion (it earns roughly $140M split 51-49 between the conference and FOX at a forward P/E of roughly 6-7).
Nebraska's stake in the Big Ten Network will be worth around roughly $40-50M. Thus, you're sort of leaving $40-50M on the table for the other 11 schools as you "acquire" your 1/12th of the conference's 51% stake in the BTN. Just think of it like that.
After the 2016 ABC/ESPN contract negotiations, and after you've gone through that buy in period, every Big Ten school will probably receive somewhere north of $30M. For contrast, the average Big 12 school right now earns $10M and it's on an uneven scale. Your take should be roughly 3x as much by the time you receive a full share. Financially, Nebraska will be taken care of, that's not something to worry about... Your president and AD clearly know all of the details, so you don't have to worry if they're comfortable with the arrangement.
As for scheduling, you have your division and Penn State every year. Ohio State and Wisconsin will rotate off in exchange for 2 of Illinois, Indiana, and Purdue. Every school wants to play Nebraska, and they're obviously not going to stick you with the toughest schedule every year. They just want the ratings to be off the charts in the first two years with Nebraska-Michigan, Nebraska-Iowa, Nebraska-Penn State, Nebraska-Wisconsin, Nebraska-Ohio State in the first year. Those 5 games will have amazing ratings, so Delany will go into the 2015-2016 ABC/ESPN negotiations with a really big stick. I expect every school to earn $30M+ after that negotiation.
Over time the value of the Big Ten Network will grow as penetration increases; you guys are getting in at a good time. The next time expansion rolls around, the BTN could be worth $2bn or more...; you're buying in at a good price.