Texas and Oklahoma agreed to a $100 million price to exit the Big 12 Conference a yr sooner than their contractual obligation, that means they are going to be a part of the Southeastern Conference for the 2024-25 faculty yr.
The Big 12 introduced Thursday that the faculties and the reached an settlement in precept concerning the exit price.
“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 stated 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.
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“I admire the approaches of OU President Joe Harroz and UT President Jay Hartzell to guarantee an amicable conclusion to this course of, and look ahead to the brilliant days forward for the Big 12 Conference.”
Hartzell stated in an announcement, in half, “We have at all times been dedicated to fulfilling our contractual obligations to the Big 12. The collegiate athletics panorama has continued to evolve quickly, and dealing collectively to speed up our exit produced advantages for all events. The Big 12 has been a revered companion for practically three a long time, and we glance ahead to a closing season of spirited competitors with our buddies and rivals.”
“The exciting matchups and passionate rivalries of the past quarter century will always be a celebrated part of our shared history,” Harroz added in an announcement, in half.
“We look forward to showcasing that intensity this season, next season and beyond.”
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SEC commissioner Greg Sankey wrote in an announcement that the convention will “proceed with facilitating the transition of Oklahoma and Texas to become full members of the Southeastern Conference on July 1, 2024.”
He added, “We look forward to welcoming the conference’s new members and moving into the future as a 16-team league.”
BYU, UCF, Cincinnati and Houston are set to be a part of the Big 12 for the 2023-24 faculty yr, giving the convention 14 groups for one season earlier than the Longhorns and Sooners exit. –Field Level Media
