WATCH: Texas officially announces SEC move in social media video
The Big 12 announced that Texas and Oklahoma would leave the league and enter the SEC in 2024 on Thursday. The Texas social media team quickly followed.
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The Big 12 released the latest in a statement on Tuesday.
“Conference officials agreed in principle to terms with the University of Oklahoma and The University of Texas at Austin to leave the Conference following the 2023-24 athletic year, one year earlier than originally announced, subject to final approval from the OU and UT governing Boards. Compensation to the Conference for the early withdrawals of the two schools totals $100 million in foregone distributable revenues, which OU and UT will be able to partially offset with future revenues.” The Big 12 said in a statement.
The Texas Longhorns were ready for the big announcement. The Big 12 continued with the following:
“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.”
