BREAKING: Big 12 announces the exit of Oklahoma and Texas in 2024

The Kansas State Wildcats played the University of Texas Longhorns on Saturday, February 4, 2022. The Wildcats lost 66-69 in Bramlage Coliseum. (Archive photo by Macey Franko | Collegian Media Group)

The Big 12 has announced the University of Oklahoma and the University of Texas at Austin will depart from the conference following the 2023-24 athletic year — one year earlier than originally announced. The two schools will be responsible for $100 million in foregone distributable 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,” 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.”

The Big 12 is welcoming four new schools in Brigham Young, Houston, Cincinnati and Central Florida for the 2023-24 athletic year — competing as a 14-team league. This will be the only athletic calendar that includes the departing and incoming conference members.