Texas and Oklahoma will go away the Big 12 following the 2023-24 faculty yr, the convention introduced in a press launch on Thursday night.
Despite asserting their intent to affix the Southeastern Conference over 18 months in the past, the Longhorns and Sooners had been contractually obligated to stay in the Big 12 till the tip of the 2024-25 faculty yr. This news permits the Longhorns and Sooners to formally turn into SEC members in the summer season of 2024.
Texas and Oklahoma have been founding members of the Big 12. That convention performed its first soccer sport in 1996.
In trade for its early exit, the Big 12 mentioned Texas and Oklahoma will owe compensation that totals “$100 million in foregone distributable revenues, which OU and UT will be able to partially offset with future revenues.” Details are nonetheless being finalized between the related events. Both UT and Oklahoma’s governing boards should approve this deal.
“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,” Big 12 commissioner Brett Yormark mentioned in an announcement. “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.”
In the press launch offered by the Big 12, Texas president Jay Hartzell was quoted as saying that “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.”
Multiple experiences over the previous few days indicated that Texas and Oklahoma have been in for an extended divorce with the Big 12. Due to TV contracts, it was reported that an early exit was turning into seemingly unlikely. However, Yormark not too long ago instructed the American-Statesman that “We’ll see how it goes. Negotiations take a lot of twists and turns.”
In its final soccer season in the Big 12, Texas and Oklahoma will compete for a convention championship alongside new members BYU, Central Florida, Cincinnati and Houston. Texas will journey to Houston and host BYU throughout the 2023 season. Oklahoma has a house sport towards Central Florida and a visit to BYU on its schedule.
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