According to reports from CBS Sports on Saturday, conference officials have discussed a plan that would offer the Longhorns and Sooners additional revenue shares as a means of persuading the headlining programs to stay put.
The new payment structure would reportedly grant Texas and OU an additional half share per year, knocking their shares up to 1.5 each and increasing payouts to approximately $56 million annually. The jump in pay for these programs would result in a drop for the remaining eight Big 12 schools, balancing out the current average of $37 million annually per team.
This potential plan was first floated on Thursday’s conference call with Big 12 commissioner Bob Bowlsby. Texas and Oklahoma did not participate in the meeting.
While this idea is being considered, it’s still very much in the preliminary stages, per CBS Sports’ sources.
— Dennis Dodd (@dennisdoddcbs) July 24, 2021
The two defecting schools are reportedly scheduled to inform the Big 12 of their decision on Monday. Their current grant of rights agreements with the league last through the 2024-25 season. If they chose to leave before that end date, they could be forced to pay up to $80 million each in TV deal buyouts.
While Texas and Oklahoma’s departure could spell disaster for the Big 12, it could bring financial opportunity to the SEC. Currently netting an average of $44 million per team annually, SEC programs’ revenue could shoot up to $60 million with the addition of these two powerhouses.