:format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/71959886/usa_today_19199544.0.jpg "Oklahoma, Texas to join SEC in 2024, reach exit agreement with Big 12")
The long saga between Oklahoma, Texas, and the Big 12 is coming to an end.
Ross Dellenger of Sports Illustrated reported on Thursday that the Big 12, the Oklahoma Sooners, and the Texas Longhorns have reached an exit agreement that will allow for the two schools to officially join the SEC in 2024. UT and OU will owe a combined $100 million to the eight legacy Big 12 schools they are leaving behind to help offset the decreased television revenue the conference will receive as a result of their depatures.
The news comes just days after ESPN's Pete Thamel reported that the effort for the two schools to leave a year earlier than their scheduled departure in 2025. A huge factor was Fox, a major rights holder to Big 12 games, losing scheduled Oklahoma and Texas games on their network to ESPN, who will own virtually the entire SEC inventory.