The Big 12 announced on Feb. 9 an agreement between the conference, the University of Texas and the University of Oklahoma to allow both universities to depart a year earlier than was first agreed upon. 

The initial agreed upon year for both universities to leave the conference was in the 2025-26 athletic year. Now, both universities will be leaving for the SEC after the 2023-24 season. The move does come with a price tag for both universities, however. The two schools will lose out on $100 million combined in distributed revenue. 

An official entry date for Texas and Oklahoma to join the SEC has yet to be announced. 

“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 in a media release. “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.”