Texas, Oklahoma are SEC Bound in 2024
Since Texas and Oklahoma’s move to the SEC was reported in the summer of 2021, the official joining date of July 1, 2025 became the next big hurdle for administrators involved in all sides of the discussion. Texas and Oklahoma wanted to leave earlier, not only for the allure of additional revenue but also to escape a conference bitterly upset with their clandestine exit.
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The Big 12, members new and old, wanted to make sure the ill effects felt from the Red River departure was minimized. Television networks wanted to make sure they were being properly rewarded for their investment into the league. It took time, but everyone has come to an agreement. 2024 it is.
The Big 12, Texas, Oklahoma, and all involved announced Thursday they have agreed in principle to terms to allow the two institutions to leave the conference in 2024, subject to final approval from the UT and OU governing boards. The conference announced compensation to the Big 12 for the early withdrawals totals “$100 million in foregone distributable revenues, which OU and UT will be able to partially offset with future revenues.”
“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,” said Big 12 commissioner Brett Yormark said in a statement. “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. I appreciate the approaches of OU President Joe Harroz and UT President Jay Hartzell to ensure an amicable conclusion to this process, and look forward to the bright days ahead for the Big 12 Conference.”
“Finding a satisfactory resolution to this matter that is fair to all parties, and best positions the Big 12 moving forward has been a top priority,” said Texas Tech University President and Big 12 Conference Board of Directors Chairman Lawrence Schovanec. “This agreement would not have occurred without the collaboration of the presidents and chancellors of all 10 Big 12 universities, and our tremendous partners at ESPN and FOX. I am very grateful for everyone’s efforts to make today’s announcement possible.”
“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,” said Jay Hartzell, UT President. “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. I appreciate Commissioner Yormark’s and Chairman Schovanec’s thoughtful approach and the collaborative work toward a solution that prioritizes the best interests of all institutions.”
“We are grateful to Commissioner Yormark and Chairman Schovanec for their concerted efforts to carve a path forward that allows us all to move ahead with clarity and certainty. With the new era of collegiate athletics fully upon us, an opportunity emerged for all parties involved to explore the value of an early departure. These terms further guarantee the sustainability, stability, competitiveness and excellence of us all,” said OU President Joseph Harroz Jr. “The exciting matchups and passionate rivalries of the past quarter century will always be a celebrated part of our shared history. We look forward to showcasing that intensity this season, next season and beyond.”
The conference announced that the terms reached today are the byproduct of the Conference members working toward a resolution that provides stability for all involved.
