We’ve all known the Oklahoma Sooners and Texas Longhorns were coming to the Southeastern Conference. But until yesterday, no one knew that would be as soon as 2024.
According to Ross Dellenger, the two universities will join the SEC in 2024. They were originally expected to join the SEC in 2025, which is the year the Big 12’s TV deal expires.
So in order to do so a year earlier than originally expected, they’ve mutually reached a buyout agreement that will have the two schools owe the Big 12 a combined $100 million.
Texas and Oklahoma will join the SEC beginning in 2024, per @RossDellenger.— On3 (@On3sports) February 10, 2023
The Sooners and Longhorns will owe the Big 12 a combined $100 million to exit early.
More: https://t.co/Z9hi73Fr1V pic.twitter.com/cxIKUZ7A7J
The cost seems incredibly high. But the two programs are expected to offset the combined $100 million with future revenue opportunities that being a part of the SEC will provide.
ESPN is reporting there were a heavy amount of logistics that played into this agreement for an early agreement. Other schools joining the Big 12, TV deals and specific future matchups that were either already scheduled or anticipated were all part of the negotiation.
Early on, this appears to be a win-win for both the Big 12 as well as Oklahoma and Texas.
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