By Adam Brown
In a joint statement, the University of Texas and the Oklahoma Sooners made an announcement on Monday that they would no longer be in media rights with the Big 12.
“Providing notice to the Big 12 at this point is important in advance of the expiration of the conference’s current media rights agreement,” the two schools said. “The universities intend to honor their existing grant of rights agreements. However, both universities will continue to monitor the rapidly evolving collegiate athletics landscape as they consider how best to position their athletics programs for the future.”
The Big 12’s media rights run out in 2025. Both the Longhorns and Sooners had to make their intentions clear to the Big 12 before the SEC admission process could move forward.
If Texas and Oklahoma leave before that time, they each have to pay $76 million to the conference.
The news broke last Wednesday, as the Houston Chronicle first reported the story of Texas and Oklahoma leaving the Big 12 for the SEC.
The SEC bylaws state that at least 75 percent of the conference members (11 of the 14 institutions) must approve any new members.