It is no secret Oklahoma and Texas are bolting from the Big 12 Conference to the SEC, with the Big 12 speeding that process up on Thursday.
The Big 12 Conference announced there was an agreement for withdrawal reached between them and the University of Oklahoma and the University of Texas to let them leave before their original departure date of June 20, 2025. The conference will be receiving $100 million in foregone distributable revenues.
“As I have consistently stated, the Conference would only agree to an early withdrawal if it was in our best interest for Oklahoma and Texas to depart prior to June 30, 2025,” said Commissioner Brett Yormark. “By reaching this agreement, we are now able to accelerate our new beginning as a 12-team league and move forward in earnest with our initiatives and future planning. I appreciate the approaches of OU President Joe Harroz and UT President Jay Hartzell to ensure an amicable conclusion to this process, and look forward to the bright days ahead for the Big 12 Conference.”
The Big 12 is set to add four new membered institutions on July 1: BYU Cincinnati, Houston, and UCF.
“We have always been committed to fulfilling our contractual obligations to the Big 12. The collegiate athletics landscape has continued to evolve rapidly, and working together to accelerate our exit produced benefits for all parties,” said Jay Hartzell, UT President. “The Big 12 has been a respected partner for nearly three decades, and we look forward to a final season of spirited competition with our friends and rivals. I appreciate Commissioner Yormark’s and Chairman Schovanec’s thoughtful approach and the collaborative work toward a solution that prioritizes the best interests of all institutions.”
“We are grateful to Commissioner Yormark and Chairman Schovanec for their concerted efforts to carve a path forward that allows us all to move ahead with clarity and certainty. With the new era of collegiate athletics fully upon us, an opportunity emerged for all parties involved to explore the value of an early departure. These terms further guarantee the sustainability, stability, competitiveness and excellence of us all,” said OU President Joseph Harroz Jr. “The exciting matchups and passionate rivalries of the past quarter century will always be a celebrated part of our shared history. We look forward to showcasing that intensity this season, next season and beyond.”
The Big 12 will compete as a 14-team league in 2023-2024, and then be back to 12 teams following the departure of Oklahoma and Texas.
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