Texas and Oklahoma won’t have to forfeit as much money as was first anticipated for leaving the Big 12 a year early, according to a report by USA Today on Friday. Here’s what you need to know:
- The Big 12 said Oklahoma and Texas were slated to forfeit a combined $100 million in revenue distribution when it was announced in February the schools were leaving the conference and joining the SEC in 2024.
- The USA Today report indicates the Big 12 opted for a more amicable and less financially beneficial split than the league bylaws specified, with the conference telling the outlet that “more than $80 million of that is based on money the schools will not get in 2024-25, the year after the move.”
- “The rest is attributed to cuts in full revenue shares for 2023-24 that Texas, Oklahoma and the rest of the Big 12’s continuing members will be taking to finance payments promised to four schools that joined the conference this summer,” according to the report.
What else the report says
According to USA Today, “While the Big 12’s bylaws called for a withholding of two years’ worth of their shares of conference revenue, Oklahoma and Texas have had no money withheld by the conference and they won’t in 2023-24.”
Shares for Oklahoma, Texas and the eight other schools in the…
