Oklahoma and Texas will each spend one more season as members of the Big 12 Conference before setting off on a new journey in the Southeastern Conference.
The Big 12 announced Thursday evening that the conference had agreed in principle to terms with both OU and Texas, allowing both schools to leave the league one year earlier than originally anticipated for a cost of $100 million.
The terms, subject to final approval from the governing boards at both schools, are being described as foregone distributable revenues by the Big 12, while Oklahoma and Texas are able to partially offset the cost with future revenues.
“As I have consistently stated, the conference would only agree to an early withdrawal if it was in our best interest for Oklahoma and Texas to depart prior to June 30, 2025,” said Commissioner Brett Yormark in a Big 12 release. “By reaching this agreement, we are now able to accelerate our new beginning as a 12-team league and move forward in earnest with our initiatives and future planning. I appreciate the approaches of OU President Joe Harroz and UT President Jay Hartzell to ensure an amicable conclusion to this process, and look forward to the bright days ahead for the Big 12 Conference.”
SEC Presidents and Chancellors voted 14-0 in June 2021 in favor of inviting OU and UT to join the conference in all sports effective July 1, 2025. That will now be moved up one year, giving both institutions the opportunity to become SEC members at the conclusion of the 2023-24 athletic year.
Later this year, on July 1, the Big 12 welcomes BYU, Central Florida, Cincinnati and Houston as new members to what will be a 14-team league for the upcoming season.
Following the departure of Oklahoma and Texas, the league will be at 12 teams.
The Big 12’s media rights deal expires in June 2025.
Thursday’s news means West Virginia is almost certainly done playing the Longhorns in football for the foreseeable future. With 14 teams playing a nine-game conference schedule in the 2023 football season, the Mountaineers do not face Texas. They will, however, play at Oklahoma on November 11.
WVU will also meet each of the four new additions to the Big 12, welcoming BYU and Cincinnati to Morgantown and playing at Houston and Central Florida.