Morgantown, West Virginia – Next season will be the final year that the Texas Longhorns and the Oklahoma Sooners will play in the Big 12 Conference.
According to Ross Dellenger, “The Longhorns and Sooners have finalized an agreement with the Big 12, as well as its television partners, to exit the league one year earlier than scheduled. Under the agreement, the schools would join the SEC in July 2024, in time to participate in the ’24 football season.
As part of the exit agreement, the Longhorns and Sooners will owe a combined $100 million to the conference, much of which will be distributed to the eight Big 12 legacy universities to offset an expected decrease in their 2024 conference revenue.”
This means that West Virginia, as well as the other seven “legacy universities” in the Big 12, will receive approximately $12.5 million in revenue. Although Texas and Oklahoma leaving the Big 12 is a major hit for the conference, the four universities joining – Houston, UCF, Cincinnati and BYU – are quality programs who will making the new Big 12 an exciting, profitable conference.
The Big 12 and its TV partners have reached an early exit agreement with Texas and Oklahoma, sources tell @SINow.
The schools will owe the league a combined $100 million in an exit fee, source says. They will begin play in the SEC in 2024 https://t.co/dTNlKT3EOL
— Ross Dellenger (@RossDellenger) February 10, 2023