Texas and Oklahoma may be leaving the Big 12 “a year ahead of schedule,” and people with knowledge of the situation “confirmed the ongoing discussions, although each cautioned that many problems must be overcome,” according to Chuck Carlton of the DALLAS MORNING NEWS. Any decision on leaving early “would have to come by Feb. 1,” when the Big 12 has to notify its TV partners of its future schedules for planning purposes. Publicly, officials at Texas and Oklahoma “have maintained they planned to fulfill their commitment to the Big 12.” Big 12 Commissioner Brett Yormark had said that he “expected the Longhorns and Sooners to stay through 2025.” At the same time, the relationship between Texas, OU and the Big 12 “always seemed unstable at best -- especially after the two accepted invitations to the SEC in late July 2021." One source said that talks about an early separation “began in late October and intensified near Thanksgiving.” Big 12 ADs were given what was described as “an informative download on the Texas-OU situation last week in Las Vegas.” Carlton notes for the two schools to leave early, they “will likely have to” negotiate “a buyout.” Current estimates have placed the “current exit fee for each school at a significant” $84M to as much as $90M, based on Big 12 bylaws. The schools would also need to “find a way for the Big 12 not to lose money in the process,” they would also have to “make Fox whole" (DALLAS MORNING NEWS, 12/17).
One source said that discussions around OU and Texas leaving the Big 12 early intensified around ThanksgivingGetty Images
