Apparently the original story was based off a very early draft of a new set of procedures for handling cases like the recent problems with institutional control at Ohio State and Penn State. The proposal to give termination powers to the commissioner and a high-powered committee of presidents is no longer a part of that discussion but was included in an "all options on the table" brainstorm.
On the plus side, the Big Ten is staying on the front of everyone's mind. Exposure is good, right?
(HT: Mike Jones)
(But Jesse Collins is still Kennard Husker.)