Texas, Oklahoma Make Official Decision on Big 12 Membership

The Big 12 is officially falling apart.
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According to multiple reports, both Texas and Oklahoma have officially informed the Big 12 Conference that they will not extend their grant of rights beyond 2025. 

Below is a joint statement made by the two universities shared by Brett McMurphy of Stadium.

Despite the grant of rights running through the 2025 calendar year, it does not seem likely that both schools will remain in the Big 12 Conference through the remainder of the agreement. We could see Oklahoma and Texas leave the conference as early as 2022-23. If they are to leave the league prior to 2025, each school would have to pay the Big 12 nearly $80 million.

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