Updated

Texas A&M will become the latest school to leave the Big 12, announcing its decision Wednesday to seek another conference.

The Southeastern Conference has long been rumored as the landing place for Texas A&M. The school did not reveal the league it will next join, but did say it will submit an application with another conference and hopes to end its affiliation with the Big 12 effective June 30, 2012.

"After much thought and consideration, and pursuant to the action of the (Texas A&M University System) Board of Regents authorizing me to take action related to Texas A&M University's athletic conference alignment, I have determined it is in the best interest of Texas A&M to make application to join another athletic conference," President R. Bowen Loftin wrote to Big 12 Commissioner Dan Beebe in a letter dated August 31, 2011.

"We appreciate the Big 12's willingness to engage in a dialogue to end our relationship through a mutually agreeable settlement," Loftin added. "We, too, desire that this process be as amicable and prompt as possible and result in a resolution of all outstanding issues, including mutual waivers by Texas A&M and the conference on behalf of all the remaining members."

Texas A&M will become the third school to defect from the league in just over a year. In June 2010, Nebraska announced its decision to leave for the Big Ten and Colorado decided to move to the Pac-10. Both of those departures took place effective this academic year, leaving the Big 12 with just 10 teams.

More to follow.