With conversations growing round the potential of Texas and Oklahoma leaving the Big 12 for the SEC sooner than scheduled, the steps wanted to facilitate such a transfer are coming into focus. It is probably going any deal involving the Longhorns and Sooners becoming a member of the SEC a yr early in 2024 would come with Big 12 rightsholders being made entire with a sequence of future nonconference games involving these groups inside the league’s footprint, trade sources inform CBS Sports.
Presently, the Big 12 grant of rights expires in 2025, releasing Texas and Oklahoma to be part of the SEC that summer time. However, discussions about Texas and Oklahoma receiving an early exit from the Big 12 ramped up three weeks in the past. Word of these talks started to leak final week throughout Big 12 league conferences in Las Vegas.
The Big 12’s two media rightsholders, Fox and ESPN, are key elements that complicate the state of affairs. At the guts of the matter: How viewership would be impacted on Fox and ESPN in 2024 if Texas and Oklahoma left earlier than the that season. There would be an apparent decline in viewership for the Big 12 package deal — and by extension, the worth of the Big 12 media rights deal — with out games from the convention’s greatest nationwide names.
Texas and Oklahoma are utilizing SEC TV marketing consultant Alan Gold to facilitate a deal, sources inform CBS Sports. The thought would be to “use games as currency” — atoning for the viewership decline with Texas and Oklahoma taking part in a choice of future nonconference games at Big 12 faculties.
“They would have to play games in the [Big 12] footprint so Fox and ESPN can have value,” an trade supply instructed CBS Sports. “If ESPN and Fox are happy, [the Big 12] would be happy.”
That could probably lead to the continuation of the Bedlam sequence between Oklahoma and Oklahoma State that was anticipated to finish when OU joined the SEC in 2025.
When these games would be performed or what number of would be scheduled shouldn’t be but recognized.
“Ultimately, the Big 12 is the position to say either ‘yay’ or ‘nay,'” mentioned one individual concerned within the negotiations.
The Action Network first reported on the escalated talks with Texas and Oklahoma probably leaving for the Big 12 for the SEC in 2024.
Sources differ in categorizing the chance of a cope with some believing it imminent whereas others take into account a decision unbelievable.
“I don’t see it happening,” an trade supply mentioned of an early departure.
An announcement that Texas and Oklahoma would be part of the SEC in 2024, as an alternative of 2025, could come as quickly as early subsequent yr, one supply instructed CBS Sports.
“It’s advanced. It’s further along,” mentioned a supply concerned in these conversations. “It was going on long before Las Vegas.”
If the deal to go away a yr early is consummated, the Longhorns and Sooners would formally turn into SEC members on July 1, 2024.
Texas and Oklahoma initially dedicated to staying by the tip of the Big 12 grant of rights and reaffirmed these plans when Brett Yormark took over as league commissioner in August. However, that stance modified a few month into Yormark’s arrival. The faculties held again their need to go away early whereas the convention accomplished an advanced new media rights deal that begins in 2026.
Lacking on-field efficiency this yr truly helped Texas and Oklahoma of their endeavor. OU’s scores have been down considerably throughout an uncharacteristic 6-6 season. Industry analysts instructed CBS Sports that the scores of games involving the opposite eight present Big 12 faculties have been up virtually 50%.
At least one purpose why the 2 collegiate powerhouses need out early is to keep away from sharing area with new Big 12 entries BYU, Cincinnati, Houston and UCF. Those 4 applications be part of the Big 12 for a 14-team league at least for 2023. This newest improvement possible explains why the Big 12 has but to announce a scheduling format for subsequent season.
“[Texas and Oklahoma] have been pushing pretty adamantly that they want to exit sooner rather than later,” a Big 12 supply tells CBS Sports. “They seem to have issue with the four new universities we’ve brought into our conference. That’s kind of expedited things. I feel like something will be worked out for them to leave the league a year early.”
Texas and Oklahoma would at least owe the Big 12 a termination payment for leaving early. The contract states any faculty departing early owes two years’ price of income. Using a median annual determine of $42 million, the Big 12 could reap as a lot as $168 million if Texas and Oklahoma give discover to the league 18 months upfront.
That sum could be negotiated down relying on both sides’s willingness to get a deal completed. Whatever monies are paid could conceivably be used to fund Big 12 growth, sources instructed CBS Sports. It could additionally be distributed to current members.
The Pac-12 stays with no new media rights deal. With their prospects seemingly diminishing, the likes of Arizona, Arizona State, Colorado and Utah could probably be lured to the Big 12. The thought would be to persuade these faculties they could earn more money within the Big 12.
The Big 12’s new media rights deal, introduced in late October, will assure league faculties an all-in common determine of at least $48 million (together with bowl income and NCAA Tournament monies), sources indicated. That is roughly $5 million greater than convention members are presently incomes with Texas and Oklahoma. The new deal begins in 2025.
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