Texas and Oklahoma have officially notified the Big 12 that they will not be renewing their grants of media rights when they expire in 2025.
The two schools are widely reported to be planning a move to the SEC.
"Providing notice to the Big 12 at this point is important in advance of the expiration of the conference's current media rights agreement," the statement said. "The universities intend to honor their existing grant of rights agreements. However, both universities will continue to monitor the rapidly evolving collegiate athletics landscape as they consider how best to position their athletics programs for the future."