On Thursday, Colorado football held a special board meeting to discuss the prospect of their looming decision to leave the Pac-12 in favor of a move to the Big 12. While there has been no official result yet regarding the actual vote, reports have already indicated that the team's decision to make the big move is already official.

NFL insider Brett McMurphy of the Action Network reports that Colorado is indeed leaving the Pac-12 and that an announcement is expected to be made after the school's Board of Regents officially approves the move. The Buffaloes will reportedly apply for a Big 12 membership on Thursday.

“A member of the Pac-12 since 2011, Colorado decided to return to the Big 12, sources said, because of several reasons: the Big 12’s stability under commissioner Brett Yormark; a more lucrative financial outlook in the Big 12; the uncertainty of the Pac-12’s future without USC and UCLA; and the inability of Pac-12 commissioner George Kliavkoff to secure a new Grant of Rights deal in the past 12 months,” McMurphy wrote in his report.

Colorado University president Todd Saliman has also spoken out about the move in a brief statement that confirms the school's plan to make the big move:

“The time has come to change conferences,” Saliman said.

This development will obviously have a significant impact on Colorado football as they enter the new season in a new conference. Their departure from the Pac-12 is also expected to impact the conference significantly as they lose yet another team.