Here's how much money Mizzou would have lost if its football team sat out 1 game

Last Saturday night, athletes of color on the Missouri football team took a bold stance against the administration. They pledged not to play football until then-president Tim Wolfe resigned or was fired.

Wolfe abruptly stepped down from office Monday amid the mounting pressure. But if he had not done so, and the team continued with their boycott, Mizzou would've owed $1 million to Brigham Young University, as The New York Times noted. 

An agreement signed last year stated that "the parties agree that if one party cancels any game or games, the defaulting party shall pay as liquidated damages to the other party one million dollars."

The University is not in danger of paying that fee now that the football team's boycott has ended, and BYU and Mizzou are set to play at 7 p.m. on Saturday, November 14.

The boycott by the football team and resulting resignation from Wolfe two days later speaks to the bargaining power of the football program. Missouri brought in $84 million in revenue in 2014, a large portion of which was driven by the football team.

The football boycott followed months of racial tension on the Columbia, Missouri campus with African-Americans targeted with hate speech.

The football team released the following statement in regard to the incidents on campus:

"The athletes of color on the University of Missouri football team truly believe 'Injustice Anywhere is a threat to Justice Everywhere. We will no longer participate in any football related activities until President Tim Wolfe resigns or is removed due to his negligence toward marginalized students' experiences. WE ARE UNITED!!!!!"

They also got full backing from head coach Gary Pinkel.

Tim Wolfe stepped down from office Monday morning, and the school's chancellor, R. Bowen Loftin, announced he will vacate his office in January.