The Big 12 snowball is turning into an avalanche.
Texas and Oklahoma announced today that they are not renewing their grants of media rights following their expiration in 2025, according to a joint statement released by both schools. This declaration is the first step in the two schools leaving the conference they helped create for the SEC.
No official invite to join has been extended by the SEC yet as the two schools continue conversations with their current conference that began this weekend.
“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 statement said. “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.”
While the league holds the schools’ rights until 2025, there is no guarantee that they stick around that long. Schools are assessed a $75-80 million penalty upon breaking their agreements early, but those figures could be made up and then some by 2025 under an SEC media deal.
If Texas and Oklahoma formally ask the SEC for membership, then the Southeastern Conference would need to vote on the additions. For the schools to get in, 11 of the 14 school Presidents need to say yes.
A domino effect could ensue if the two schools pull the plug on the Big 12.
The AAC has already shown interest in bringing stragglers in under their current TV deal with ESPN. All of this comes on the heels of the burbling 12-team college football playoff. Every conference wants as much of that annual $1 billion pie as possible. The Power Five is at risk because of the new format, and the Big 12’s future is on shaky ground in what could soon be a Power Four world in college sports.