No. Texas & Oklahoma negotiated a deal to leave a year...
Posted on: June 13, 2024 at 21:45:48 CT
zounami MU
Posts:
66074
Member For:
10.17 yrs
Level:
User
M.O.B. Votes:
5
early, as you said, but they're sacrificing $100M in order to do so.
Here's an excerpt from the article (which almost seems like it was designed to intentionally mislead or confuse its readers into thinking there's no financial penalty)...
"Texas and Oklahoma will forgo $100 million from the conference under an agreement that is allowing the schools to leave a year earlier than initially required. In response to recent questions from the USA TODAY Network, the conference said more than $80 million of that is based on money the schools will not get in 2024-25, the year after the move. The rest is attributed to cuts in full revenue shares for 2023-24 that Texas, Oklahoma and the rest of the Big 12’s continuing members will be taking to finance payments promised to four schools that joined the conference this summer."