Texas and Oklahoma announce will not renew media rights to Big 12 Conference after 2025

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Lincoln Riley

Oklahoma head football coach Lincoln Riley speaks from the stage with mannequins in the back ground during NCAA college football Big 12 media days Wednesday, July 14, 2021, in Arlington, Texas. (AP Photo/LM Otero)

WICHITA, Kan. (KSNW) – Oklahoma and Texas took the first formal step toward moving to the Southeastern Conference.

The schools sent out a joint statement that made no mention of the SEC and said “the universities intend to honor their exiting grant of rights agreements.” The “grant of rights” gives the conference control of the school’s media rights and runs concurrent with the Big 12’s television contracts with ESPN and Fox.

Revenue from the Big 12’s TV deals make up the bulk of the $34.5 million the league distributed to its members this year.

“The University of Oklahoma and The University of Texas at Austin 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.”

JOINT STATEMENT FROM THE UNIVERSITY OF OKLAHOMA AND UNIVERSITY OF TEXAS AT AUSTIN

Last week, rumors began swirling that the University of Oklahoma and the University of Texas are looking at options to join the powerful Southeastern Conference.

On Sunday, the Big 12 Conference’s Executive Committee met with Oklahoma officials about the university’s future.

“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,” Commissioner Bob Bowlsby stated. “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.”

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