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The Big 12 athletic conference will withhold money from Baylor University while it investigates the college’s response to the sexual-assault scandal that has plagued the Baptist school’s football program for more than a year. In a Wednesday announcement, the conference said it would keep 25 percent of the Texas university’s annual payouts “until the proper execution of controls is independently verified.” Big 12 Chairman David Boren, president of the University of Oklahoma, said, “By taking these actions, the board desires to ensure that the changes that were promised are actually made and that systems are in place to avoid future problems.” The interim president of Baylor, David Garland, said the news was an “unexpected financial event” but that it would not “materially impact the overall financial position of the university.”