Oklahoma and Texas officially notified the Big 12 on Monday that they will not be renewing their grants of media rights after their expiration in 2025, according to a joint statement released by both schools.
“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.”
Big 12 sources told ESPN on Monday that the statement leaves some “wiggle room” and doesn’t fully guarantee that the flagship schools would remain in the league through 2025. The possibility remains that they will pay the $75-80 million penalty for leaving early, while also giving the required 18 months’ notice, per Big 12 bylaws. Some have speculated that this is the first legal maneuver, and the possibility also exists that if the Big 12 dissolves before 2025, OU and Texas would no longer be bound to stay through the duration of the contract.
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