Report: Texas and Oklahoma Are Leaving Big 12

Texas and Oklahoma are leaving the Big 12, Chip Brown reports Friday:

The move paves way for Texas and Oklahoma to end up in the SEC, which could soon vote on adding the two schools to the conference.

Meanwhile, Texas and Oklahoma are prepared to wait until the current grant of rights agreement expires in 2025 before moving on from the Big 12.

"To leave earlier, Texas and OU would be contractually bound to give up their four remaining years of Big 12 television revenue, Brown says, "which would total nearly $160 million each (based on 2019's $37.7 million payout per school) - although such situations in the past have been settled in court to allow both sides to move on."