Oklahoma, Texas reach deal to leave Big 12 for SEC in summer 2024

The Sooners finally have a Big 12 finish line. They will join the Southeastern Conference in summer 2024. 

The Big 12 announced an exit date for OU and Texas to leave the conference they helped form almost 30 years ago. The 2023-24 academic year will be the Sooners’ and Longhorns’ final season competing in the Big 12. 

Some occasionally contentious negotiations finally ended with a compromise – each school will pay $50 million in exit fees, some $30 million less than each would have owed by Big 12 contract. 

Both schools had stated their intentions to stay with the Big 12 through the 2024-25 academic year, but both clearly sought to get to the SEC earlier. 

“We are grateful to Commissioner (Brett) Yormark and chairman (Lawrence) Schovanec (Texas Tech president) for their concerted efforts to carve a path forward that allows us all to move ahead with clarity and certainty,” OU president Joe Harroz said in the Big 12 press release. 

“With the new era of collegiate athletics fully upon us, an opportunity emerged for all parties involved to explore the value of an early departure. These terms further guarantee the sustainability, stability, competitiveness and excellence of us all.” 

More:Carlson: Why terms of SEC-bound OU & Texas divorce from Big 12 are good for all parties

What will SEC football schedule format be when OU, Texas join?

The SEC has not announced a format for its eventual 16-team football alignment, but the conference is expected to go without divisions. The likely scheduling model is each school to play nine conference games per year, with three permanent opponents and the other 12 SEC members to rotate, meaning every member will play every other member at least twice every four years. 

“The exciting matchups and passionate rivalries of the past quarter century will always be a celebrated part of our shared history,” Harroz said of leaving the Big 12. “We look forward to showcasing that intensity this season, next season and beyond.” 

The agreement is subject to approval from the OU and Texas governing boards. 

No details were released about potential television compromises. Fox network was reported to be holding up an agreement and was seeking compensation for losing OU and Texas a year before the Big 12’s current television contract expires. 

But the Big 12 did say that OU’s and Texas’ payouts to the conference would be “partially offset with future revenues.” 

More:OU football schedule is out for 2023. Meet the Oklahoma Sooners' new Big 12 opponents.

SEC move will not affect 2023 Big 12 football schedule

The Big 12 will play the 2023 season with 14 members, with newcomers Brigham Young, Central Florida, Cincinnati and Houston coming aboard this summer. 

“As I have consistently stated, the conference would only agree to an early withdrawal if it was in our best interest for Oklahoma and Texas to depart prior to June 30, 2025,” Yormark said. “By reaching this agreement, we are now able to accelerate our new beginning as a 12-team league and move forward in earnest with our initiatives and future planning.” 

Schovanec noted the role of networks ESPN and Fox. 

“Finding a satisfactory resolution to this matter that is fair to all parties, and best positions the Big 12 moving forward, has been a top priority,” Schovanec said. “This agreement would not have occurred without the collaboration of the presidents and chancellors of all 10 Big 12 universities, and our tremendous partners at ESPN and FOX. I am very grateful for everyone’s efforts to make today’s announcement possible.” 

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