UT-Austin and U of Oklahoma to let Big 12 media rights lapse, signaling conference exit

by Jeremy

Dive Brief:

  • The University of Texas at Austin and the University of Oklahoma jointly announced Monday that they will not renew their media rights with the Big 12 Conference when they expire in 2025, signaling their likely intent to leave the league.
  • The moves would deal a significant blow to the conference, which was reportedly considering changes to give the schools a bigger annual payout as a way to dissuade them from leaving for the lucrative Southeastern Conference.
  • The possible Big 12 departures have drawn local opposition. Around three dozen Texas lawmakers filed a bill last week that would effectively stop the University of Texas at Austin from leaving the Big 12.

Dive Insight:

If UT-Austin and the U of Oklahoma left the Big 12, it would make significant waves in college athletics — especially football. In their statement, the two schools said they intend to honor their existing rights agreement but plan to “monitor the rapidly evolving collegiate athletics landscape as they consider how best to position their athletics programs for the future.” Media reports have said they may leave for the Southeastern Conference. Their addition would make the SEC the only league with 16 teams.

The two universities are also among the biggest brands in college football. UT-Austin’s football revenue nearly reached $147 million during the 2019-20 academic year, while the U of Oklahoma’s team brought in $96 million in revenue in 2016-17, according to media reports. Their announcement comes as colleges are already responding to seismic shifts in athletics. The NCAA recently released interim guidance allowing student-athletes to profit off the use of their names, images, and likenesses, kickstarting an arms race among schools to help them land endorsement deals.

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