The Big 12 and its remaining membership expressed its ‘disappointment’ with Oklahoma and Texas through a statement released on Monday.
Texas and Oklahoma reportedly sent their letters to the Big 12 Conference indicating their intention to leave the league after the grant of media rights expires in 2025. The statement from the Big 12 acknowledged that on Monday, even though the presidents for both Oklahoma and Texas, along with along with the Big 12’s executive committee talked on Sunday. The league also reportedly was prepared to offer both Texas and Oklahoma a larger piece of the league’s revenue share to stay in the Big 12.
“Although our eight members are disappointed with the decisions of these two institutions, we recognize that intercollegiate athletics is experiencing rapid change and will most likely look much different in 2025 than it does currently,” said commissioner Bob Bowlsby via the statement. “The Big 12 Conference will continue to support our member institutions’ efforts to graduate student athletes and compete for Big 12 and NCAA championships. Like many others, we will use the next four years to fully assess what the landscape will look like in 2025 and beyond. The remaining eight institutions will work together in a collaborative manner to thoughtfully and strategically positioned the Big 12 Conference for continued success, both athletically and academically, long into the future period.”
The Big 12 Media Grant of Rights extends through June 30, 2025. Oklahoma and Texas could decide to leave the conference before that date, but it would cost them, potentially, upwards of $70-80 million in exit fees to do so.
You can find Matthew Postins on Twitter @PostinsPostcard.
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