It turns out the 2023 season will be the last in the SEC’s current format.
On Thursday night, Sports Illustrated’s Ross Dellenger reported that Oklahoma and Texas — which initially agreed back in 2021 to join the SEC — have reached an exit agreement with the Big 12 (and, more importantly, its TV partners) that will allow both teams to join their new conference for the 2024 football season.
Per Dellenger, the agreement carries a combined $100 million exit fee.
Both schools were contractually locked into the Big 12 until 2025 based on the current grant of rights agreement. It was initially reported that a deal to get out of that contract early was unlikely, but it seems that both parties were able to come to terms.
The Big 12 and its TV partners have reached an early exit agreement with Texas and Oklahoma, sources tell @SINow.
The schools will owe the league a combined $100 million in an exit fee, source says. They will begin play in the SEC in 2024 https://t.co/dTNlKT3EOL
— Ross Dellenger (@RossDellenger) February 10, 2023
The 2024 season will be a year of many firsts in college football. In addition to SEC expansion, the College Football Playoff is set to expand to 12 teams while USC and UCLA will leave the Pac-12 to join the Big Ten.
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