Oklahoma Sale Contract With Big 12
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
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Big 12's Bob Bowlsby calls Oklahoma, Texas exit for the SEC a 'personal betrayal' KANSAS CITY, Mo. Big 12 Commissioner Bob Bowlsby speaks in measured tones about the decision by Oklahoma and Texas to leave for the SEC.
Big 12 bylaws require leaving schools to give 18 months of notice and pay a hefty exit fee equivalent to two years of revenue distribution. Based on the Big 12's most recent tax filings, that penalty would be about $80 million.
Texas and Oklahoma have officially begun their transition from the Big 12 to the SEC. The two schools announced Monday they will not renew their grant of rights agreement with the Big 12, though they plan to "honor their existingagreements" through the 2024-25 term.
Oklahoma and Texas announced late last summer that they were leaving the Big 12 to become members of the Southeastern Conference. Since that announcement, the Big 12 has come to agreement with four new schools to join the conference as early as the 2023 season.
