Oklahoma and Texas, which are set to join the Southeastern Conference when the Big 12's current Grant of Rights expires in 2025, possess "momentum" for an earlier exit in 2024, Action Network's Brett McMurphy reported Monday.
There's "growing sentiment" & "momentum" for OU & Texas to leave Big 12 early & join SEC in 2024, sources told @ActionNetworkHQ. There still remains obstacles for it to occur, but "climate is right" & decision could be reached by next month, sources said https://t.co/ouNXlYIBEA
— Brett McMurphy (@Brett_McMurphy) December 12, 2022
The two schools continue to maintain publicly their commitment to leaving in 2025, however, Big 12 commissioner Brett Yormark said at the conference's media days on July 13 he's "not against" negotiating an earlier departure.
McMurphy detailed both the Big Ten’s addition of USC and UCLA and the College Football Playoff’s expansion to 12 teams in 2024 as reasons the likelihood has increased for OU and Texas to make an early move. Two other likely factors McMurphy mentioned was the Big 12’s decision to add BYU, Cincinnati, Houston and UCF in 2023, and the conference’s new media rights deal.
The Big 12 agreed to a six-year media rights agreement with ESPN and Fox Sports worth a total of $2.28B, Sports Business Journal reported on Oct. 30. The Big 12 requires OU and Texas to pay an exit fee the sum of the league’s distribution for two years.
The three parties have been involved in discussions for months but still have not reached an agreement on the schools’ buyout amount, which is around $84 million per school, according to McMurphy.
Another wrinkle in the two schools' desire to exit the Big 12 early, according to McMurphy, is the SEC's upcoming 10-year media rights deal with ESPN which begins in 2024. It's unclear whether ESPN would be interested in paying an increased amount to OU and Texas early instead of waiting until 2025.
Yormark told reporters at the Big 12 Championship Game on Dec. 3 the conference is targeting a mid-December release for the 2023 football schedule with no divisions included.