Newly Acquired Big 12 Conference Members are Nearing a Settlement
The Big 12 Conference expansion teams, University of Houston, University of Central Florida, and the University of Cincinatti filed for an extension to exit the American Athletic Conference on Tuesday as the two sides reach a settlement on the exit fee ranging anywhere from $17 million -$20 million, allowing them to join the Big 12 July 1, 2023, instead of 2024 according to Brett McMurphy of the Action Network on Tuesday. AAC Commissioner Mike Aresco sought a $35 million early-exit fee.
Sources also told McMurphy that they are "fully confident" the three schools will be finalizing the deal later this month.
The fourth incoming member, Bringham Young University, is set to join the conference on the scheduled date, July 1, 2023.
The two schools who kickoff the newest conference realignment, Oklahoma, and Texas, are still expected to remain in the conference till end of the 2024-25 academic year, and Big 12 officials are contemplating the divisions when the four new schools arrive for the final two years of OU's and UT's remaining contract with the Big 12.
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