University of Texas issues statement signaling intent to leave Big 12

AUSTIN, Texas - The University of Texas has issued a statement signaling its intent to leave the Big 12 Conference.

In a joint statement with the University of Oklahoma, officials say that "they will not be renewing their grants of media rights following expiration in 2025."

The statement says that the "notice to the Big 12 at this point is important in advance of the expiration of the conference's current media rights agreement" and that "the universities intend to honor their existing grant of rights agreement."

Officials say that both OU and Texas "will continue to monitor the rapidly evolving collegiate athletics landscape as they consider how best to position their athletics programs for the future."

The statement indicates that both Texas and OU will leave the Big 12 to join the SEC Conference.

The Associated Press reports that the Big 12 said Sunday night its executive committee of Texas Tech President Lawrence Schovanec, Baylor President Linda Livingstone and Commissioner Bob Bowlsby held a video conference with Oklahoma President Joe Harroz and Texas President Jay Hartzell.

"The meeting was cordial, and the Executive Committee expressed a willingness to discuss proposals that would strengthen the Conference and be mutually beneficial to OU and UT, as well as the other member institutions of the Conference," Bowlsby said in a statement. "I expect that we will continue our conversations in the days ahead and we look forward to discussing thoughts, ideas and concepts that may be of shared interest and impact."

An early departure could cost Texas and Oklahoma well over $100 million combined to get out of that grant of rights.

The full joint statement is as follows:

The University of Texas at Austin and The University of Oklahoma notified the Big 12 Athletic Conference today that they will not be renewing their grants of media rights following expiration in 2025. Providing notice to the Big 12 at this point is important in advance of the expiration of the conference’s current media rights agreement. The universities intend to honor their existing grant of rights agreements. However, both universities will continue to monitor the rapidly evolving collegiate athletics landscape as they consider how best to position their athletics programs for the future.

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The Associated Press contributed to this report.

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