Rutgers will join the conference on July 1, 2014.
The University is still involved in a legal battle with the American Athletic Conference over exit fees worth $10 million, according to the report.
The move puts Rutgers in a conference with 12 other schools that are part of the Association of American Universities (AAU), an elite group of research-intensive institutions. The University of Nebraska is the only Big 10 school not in the AAU, having lost its status in 2010.
It also means an upgrade in competition, and a needed upgrade in athletics facilities, something that has led critics to question whether Rutgers will spend more money than it makes off the move, according to the report. Rutgers already supports its athletic department with university funds because the athletic department loses money, according to the report.
Rutgers becomes a full-member of the Big 10 after six years in the conference, according to the report.