Texas, Oklahoma Officially Inform Big 12 They Won't Renew Grant Of Rights, Intend To Leave Conference

(CBSDFW.com)- In a joint statement Monday morning, the University of Texas at Austin and the University of Oklahoma announced that they have informed the Big 12 that they won't renew their grant of media rights. The statement says that the two schools intend to honor the existing grant of rights which expire in 2025.

"The University of Texas at Austin and The University of Oklahoma notified the Big 12 Athletic Conference today that they will not be renewing their grants of media rights following expiration in 2025. 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 reads. "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."

The announcement comes after reports began late last week that the two schools were eyeing a jump to the SEC. There has been no official confirmation that the two schools are looking to move to the SEC but today's announcement does seem to indicate interest in leaving the Big 12 conference.