AUSTIN — Texas and Oklahoma are prepared to inform the Big 12 they will not renew their media rights agreement with the league when the current deal expires in 2025, a conference-shattering move that could come as early as Monday morning.
A Big 12 source confirmed both the Longhorns and Sooners are preparing to break from the league they helped found in 1994. The Chronicle reported on Wednesday that the schools had discussed a move to the SEC and that an announcement could come in the next few weeks. Declining to extend or negotiate a new media rights agreement (first reported by Dallas television station WFAA) with the Big 12 and providing notice of intent to withdraw to will allow Texas and OU to formally begin the process of aligning with a new conference.
But Texas and Oklahoma would still be bound by the grant of rights, which bestows the schools’ first- and second-tier media rights to the Big 12. If Texas and Oklahoma exit prior to June 30, 2025, when that agreement expires, the Big 12 gets to keep the TV money a school generates even after it leaves.
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Big 12 bylaws also stipulate that the “interim period,” from indicating intent of withdrawal to officially leaving the conference, is “18 full calendar months following the notice date, unless an earlier date is established by a Supermajority of Disinterested Directors in its sole discretion.”
Withdrawing members are also obligated to pay a commitment buyout fee. That amount is equal to conference media rights distributions that would otherwise have been paid out to the program(s). The Big 12 distributed $34.5 million each to its 10 member schools during the 2020-21 fiscal year, a $3-million drop from the previous year due to effects from the COVID-19 pandemic. Big 12 commissioner Bob Bowlsby believes distributions could jump to $40 million or more next fiscal year, which could make Texas’ potential buyout hit $80 million.
Even with all the potential obstacles – Texas A&M’s fervent objections, vitriol from the rest of the Big 12, an effort by some Texas and Oklahoma representatives to turn conference realignment into a legislative issue – the belief is Texas and Oklahoma are bound for a new conference sooner rather than later.
A number of Texas representatives are scrambling to prevent the state’s flagship university from breaking off from the Big 12, which would leave other in-state conference members Baylor, TCU and Texas Tech in a precarious situation.
Rep. Jeff Leach, a Baylor alum, announced he would work toward passing legislation that would require "legislative approval for UT to bolt" from the Big 12. He was one of four lawmakers who visited with Gov. Greg Abbott Thursday, a group that included Rep. Dustin Burrows, a Texas Tech graduate whose district encompasses much of Lubbock and its surrounding areas. (Burrows’ office did not respond to a request for comment.)
“The decision will have a monumental impact on the State of Texas,” Leach said Friday in a statement issued to Hearst Newspapers. “For some communities and business owners, namely in Waco and Lubbock, the effects could be devastating. I am working around the clock with multiple other State Representatives and Senators who understand the urgency of the situation and we are exploring every single option, including encouraging the Governor to take swift action to slow or stop it from happening.”
Lawmakers aren’t the only ones going after Texas and Oklahoma.
In a joint statement issued Friday afternoon, Baylor president Linda Livingstone and athletics director Mack Rhoades said the school was actively engaged in conversations” with our Big 12 colleagues and others to ensure our University is in the strongest position possible now and into the future.”
That entire 293-word statement seemed muted compared to the one Oklahoma State president Kayse Shrum delivered Friday evening. Shrum finger-wagged Oklahoma for its “lack of engagement and transparency” and accused the Sooners of harming the state by seeking an exit from the Big 12.
“We have historically worked together to advance our state and address issues based on a partnership built on trust,” Shrum said. “To that end, we will continue to work with purpose to the advancement of our state and the betterment of our fellow Oklahomans. In the ever-changing college athletic landscape, we will honor our values and ethics as we consider the next steps.”
But all those pleas funneling into Abbott’s office are unlikely to amount to anything of substance, including legislative hearings. If Texas, with its self-funded athletic department, is intent on dumping the Big 12 for the SEC, there’s little Leach and Co. can do to stop it.
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Texas, Oklahoma preparing for exit from Big 12 - Houston Chronicle
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