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The Oklahoma Sooners and Texas Longhorns appeared to take the first step in leaving the Big 12 amid rumors of the schools’ shocking departure from the conference.
The universities released a joint statement announcing they would not be renewing their media rights grants following the expiration in 2025.
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"The University of Oklahoma and The University of Texas at Austin notified the Big 12 Athletic Conference today that they will not be renewing their grants of media rights following expiration in 2025," the statement read. "Providing notice to the Big 12 at this point is important in advance of the expiration of the conference’s current media rights agreement. The universities intend to honor their existing grant of rights agreements. However, both universities continue to monitor the rapidly evolving collegiate athletics landscape as they consider how best to position their athletics programs for the future."
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The fervor surrounding the Sooners and Longhorns’ potential move started last week when the Houston Chronicle reported the schools have an interest in joining the SEC.
Big 12 leaders then had a call on how to keep the schools in the conference.
"There is a recognition that institutions may act in their own self-interest, however, there is an expectation that members adhere to Conference bylaws and the enforcement of Grant of Rights agreements," the Big 12 said in a statement Thursday.
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The media rights end in June 2025. The schools could decide to leave early but possibly give up tens of millions in TV revenue for every year the grant is in effect or agree to a financial settlement with the conference.
The Associated Press contributed to this report.
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