It had initially been thought that Texas and Oklahoma would lose $160 million for leaving the Big 12 and joining the SEC for the 2024-25 season. It turns out that Longhorns and Sooners won't be hit quite that hard.
In February, the Big 12 said that Texas and Oklahoma were leaving $100 million on the table by leaving the conference to take part in SEC play one year earlier than what had been agreed upon. The Big 12 has now told USA Today that more than $80 million of that money comes from what the schools were supposed to get in the 2024-25 season. No revenues generated for 2023-2024 have been withheld from Texas and Oklahoma, USA Today reports.
Instead of having money withheld from the two schools for two years, it will only happen next year.
Big 12 schools are receiving $7 million less than they did a year ago in order to pay for the conference's new members, according to USA Today. BYU, UCF, Cincinnati and Houston all became members of the Big 12 in July. Colorado is also headed to the Big 12, leaving the Pac-12 just as Deion Sanders has turned the football program into one of the nation's biggest brands,
The decision for the Texas football and Oklahoma football programs to leave the Big 12 is among the biggest changes in conference realignment. The Longhorns and Sooners are headed to the conference that has dominated college football and will only make it strong.
The Texas football team looks to be a national championship contender in the 2023-24 season. The Longhorns defeated Alabama in Week 2, setting the stage for a future SEC rivalry.