Which forces could keep Texas and Oklahoma in the Big XII longer than expected?

Texas and Oklahoma applied for SEC membership beginning July 1, 2025 and the conference said they will retain them until then. Of course, there are still rumors that they will leave the Big XII early and pay the necessary buyouts with their more-than-deep pockets. 

But on Monday, Yahoo! Sports’ Pete Thamel detailed why the teams might be forced to stick around and play their Big XII opponents a little longer than the Longhorns and Sooners might wish. 

The SEC’s media deal with CBS extends through 2023. The deal is an awful agreement for the conference, as CBS pays just $55 million for the SEC’s top games and the SEC championship. Beginning in 2024, ESPN gets exclusive rights to the SEC’s content. The parties signed a 10-year, $300 million contract in December 2020. 

The formal process of Texas and Oklahoma leaving the Big XII began with the notification to the conference that they would not extend their grant of rights agreement, forcing them to pay a buyout should they depart earlier. The buyout is estimated around $76 million per team depending on how much revenue the conference generates, and therefore shares with its members, in the coming years.

As Thamel notes, if Texas and Oklahoma join the SEC prior to 2023, CBS could presumably have access to their home games and the blockbuster Red River game each October. But the SEC likely would not make additional money. 

“CBS has shown in past SEC realignment that they aren’t going to pay more money for these games,” Thamel wrote. 

Further, Big XII Commissioner Bob Bowlsby demonstrated last week that he is not shy about legal battles with either team or ESPN. Bowlsby sent a scathing letter to the media giant alleging tampering in the process and an active effort to coerce the remaining Big XII teams out of the conference. 

“The other dynamic here is that Big 12 Commissioner Bob Bowlsby is daring OU/Texas/ESPN to give them a reason to get litigious,” Thamel said. 

While Texas and Oklahoma would love to grab a piece of the SEC pie sooner rather than later, external forces could make waiting more attractive for both parties. 

“The juice may not be worth the squeeze when you judge cost and legal risk with seemingly limited potential return,” Thamel said.

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