AUSTIN, Texas (AP) — Texas and Oklahoma are heading to the Southeastern Conference in 2024, a yr sooner than initially deliberate, after Big 12 officers cleared the way in which Thursday for the storied applications to exit their league.
Texas and Oklahoma will depart behind the $50 million every faculty would have acquired over the subsequent two seasons below the Big 12′s media contracts.
Big 12 Commissioner Brett Yormak mentioned the league would solely agree to an early departure (*12*)
“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,” Yormak mentioned in a press release saying the settlement.
BYU, Central Florida, Cincinnati and Houston are becoming a member of the Big 12 prior to the 2023 soccer season, giving the league a short lived membership of 14 colleges.
The settlement should nonetheless be accredited the Texas and Oklahoma boards of regents, however that’s thought of a formality.
SEC Commissioner Greg Sankey mentioned in a press release that the faculties will turn out to be full members of the convention on July 1, 2024.
“We are continuing our preparation for this membership transition, and we look forward to welcoming the conference’s new members and moving into our future as a 16-team league,” Sankey mentioned.
The strikes by Texas and Oklahoma have been within the works since 2021, when the SEC invited the Big 12’s marquee applications to be a part of what’s already the strongest soccer convention within the nation.
Oklahoma and Texas have mixed for 10 nationwide championships as decided by The Associated Press, however none for the reason that Longhorns’ 2005 season championship. TCU, which made it the College Football Playoff championship sport final season, joined Oklahoma as the one Big 12 groups to make the playoff.
Big 12 officers have been initially surprised by the departure. Former Big 12 Commissioner Bob Bowlsby even accused ESPN of attempting to “destabilize” the league to assist Texas and Oklahoma depart early.
Thursday’s announcement was way more cordial. Texas Tech President Lawrence Schovanec, who can be the chairman of the Big 12 Board of Directors, referred to as the settlement “fair to all parties,” and mentioned it couldn’t have occurred with out collaboration with the league’s broadcast companions ESPN and Fox.
Money has been a driving issue within the shifting panorama of faculty athletics realignment. The SEC reported a income distribution of $49.9 million per faculty for the 2021-2022 faculty yr, exceeding by greater than $7 million what the Big 12 distributed to its members for a similar interval.
Adding Texas and Oklahoma to the SEC’s broadcast portfolio is predicted to solely enhance the league’s payout. They will land of their new league simply in time for a brand new $3 billion cope with ESPN that offers the community the printed rights to all of the convention’s soccer video games.
The additions of BYU, Cincinnati, Houston and UCF will enhance the Big 12′s nationwide footprint and push the league into new media markets.
Texas and Oklahoma haven’t already left for the SEC as a result of each colleges have been tied to the Big 12 and its different members via a grant of media rights via the 2024-25 faculty yr. That deal ran concurrently with the convention’s tv contracts with Fox and ESPN.
“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,” Texas President Jay Hartzell mentioned. “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.”
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