Texas and Oklahoma Announce Big 12 Departure

After much speculation and reporting, the rumors have officially turned into fact as Texas and Oklahoma announced their intentions to depart from the Big 12.

Last Wednesday's report from the Houston Chronicle has been proven true. The University of Texas and the University of Oklahoma informed the Big 12 on Monday that they officially wish to leave the Big 12. 

This announcement from both programs comes after last week's bombshell news that both Big 12 programs had reached out to the Southeastern Conference about a potential move, which sparked excitement and shock as it would be a seismic shift in the college football world. 

The SEC is the best conference in college football, but adding two elite-level programs in Texas and Oklahoma would only solidify the SEC's place atop the sport. 

The Big 12's media rights contract runs through the 2024 season, meaning that the two programs would not be able to leave freely until 2025. However, if the two former founders of the Big 12 decided to go early, their buyout price is around $150 million combined, without any potential fees and penalties. 

Texas and OU denied the recent proposal from the Big 12 to extending their TV rights for another five seasons, which would have resulted in the deal going through the 2030 season. 

Now with the two programs effectively being "free agents," it is expected they will apply to the SEC, which will see the Southeastern Conference vote on whether or not to accept the two new members. Texas A&M, the former Big 12 rival of Texas, currently appears to be the only objection to the potential addition of the two teams. The Aggies would need three other universities to join them in opposition to kill the move, which doesn't seem likely.

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