What was reportedly dead a week ago has now been risen from the dead Lazarus-style as OU and Texas’ potential departure from the Big 12 in 2024 — seemingly improbable a week ago — is now imminent. The Big 12 announced Thursday night that it has agreed to allow Texas and OU to leave the league following the 2023-24 athletic year, paving the way for the upcoming football season to be their last in the league.
The agreement comes at a steep price for the outgoing Big 12 schools with the agreement coming with the stipulation that OU and Texas must pay early withdrawal fees that total $100 million in “foregone distributable revenues.” OU and Texas can partially offset the fees with future revenues.
“As I have consistently stated, the Conference would only agree to an early withdrawal if it was in our best interest for Oklahoma and Texas to depart prior to June 30, 2025,” Big 12 Commissioner Brett Yormark said. “By reaching this agreement, we are now able to accelerate our new beginning as a 12-team league and move forward in earnest with our initiatives and future planning. I appreciate the approaches of OU President Joe Harroz and UT President Jay Hartzell to ensure an amicable conclusion to this process, and look forward to the bright days ahead for the Big 12 Conference.”
OU and Texas were previously set to part ways with the Big 12 July 1, 2025, but the agreement allows them to leave for the SEC a year early.
For OSU that means the last Bedlam game of the series while OU is under the Big 12 umbrella will take place on the turf of Boone Pickens Stadium next season. The Bedlam game is scheduled for Nov. 4. A kick time will be set at a later date.
OSU will not face Texas next season after learning earlier this year in the Big 12’s schedule release that the two will not face off. Officially that will conclude the series while both are in the league together with OSU winning the last one last season 41-34 in Stillwater.