Boise, ID (KBOI-TV) - Multiple sources confirmed to KBOI-TV Saturday night that Boise State met the June 30 midnight deadline to submit its written withdrawal notice to the Mountain West Conference.

The submission was first reported by the Las Vegas Review Journal just before 10 p.m. Saturday night.

Boise State's letter was sent to the conference and each member institution during the 9 p.m. hour on Saturday. By beating the midnight deadline for written notice of departure from the conference, Boise State avoids an additional $5 million penalty for leaving the Mountain West in July 2013. The school will still forfeit conference revenue (around $2.5 million) plus its cut of any bowl game revenue from the 2012-2013 season.

UPDATE: Statement issued by Boise State University on Sunday:

Boise State University announced today that it is remaining as a football only member of the Big East Conference and is in ongoing, substantive discussions with the Big West Conference to be the home for the majority of its Olympic sports.

Consistent with these discussions, the Big West announced today that it will hold a meeting of its Presidents prior to the start of the coming academic year for a final decision on Boise State's membership in the Big West beginning July 1, 2013.

"There is no doubt that conference affiliation is a difficult and complex issue, but I am very pleased where we stand today and excited for the future prospects of all of our Bronco sports," commented Boise State President Dr. Bob Kustra.

Boise State has issued its withdrawal notice to the Mountain West Conference effective June 30, 2013.