The reason for the MU/UM thing has nothing to do with the Big 8: the entire University system, which includes Mizzou, University of Missouri-St. Louis, and University of Missouri-Kansas City, is known collectively as the "University of Missouri" system. Mizzou is the flagship, but it's actually known as Missouri University. That's the distinction between the entire system and the flagship campus.
In June, the University of Missouri — which goes by MU instead of UM for some reason — announced that it would spend $200 million to improve its athletic facilities as part of its move to the SEC. One of the first projects scheduled for completion is a renovation of Memorial Stadium’s east side. The school plans to add 5,000 bleacher seats as well as 1,200 premium seats.
Renderings of the new exterior have now been made public:
The school will also convert some media areas on the west side of the stadium into club/luxury suites. The west side work should be completed by August. The east side project is expected to be ready in time for the 2014 football season, on year sooner than originally planned.