The Big 12's media rights deal is set to run through the 2024 football season. Nonetheless, the conference is already discussing an extension.
It was reported on Wednesday that FOX and ESPN have agreed to enter early discussions with the Big 12.
Big 12 commissioner Brett Yormark released a statement on this decision.
"It is an exciting time for college athletics and given the changing landscape we welcome the opportunity to engage with our partners to determine if an early extension is in the best interest of all parties," Yormark said. "The Big 12 has enjoyed a fantastic relationship with its multi-media rights holders, and I look forward to having these conversations."
It's unclear how the eventual departures of Oklahoma and Texas will impact the Big 12's negotiations with FOX and ESPN.
ESPN's Pete Thamel did report that there's no "formal window" for the Big 12 to reach a deal.
For the television networks, the discussions do not affect the formal negotiating window in the contracts. If nothing happens from these conversations, the networks maintain the formal negotiating window in February 2024. This opening of discussions essentially gives Big 12 commissioner Brett Yormark and the conference's television partners two chances to engage.
If the Big 12 negotiates a new deal, it's expected to be a short-term extension.
Time will tell if Yormark can strike a deal for his conference.