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The Big 12 Conference had a teleconference on Thursday evening to discuss the possibility that OU and Texas may be on their way to the SEC. Perhaps signaling the seriousness of the rumors, neither Oklahoma nor Texas attended the meeting, which reportedly lasted two hours.

After the conclusion the remaining eight teams released a statement saying:

 “Oklahoma and Texas are founding members of the Big 12 and we value their traditions and history of success. - The eight members strongly desire to retain the current composition, which has proven it can compete at the highest levels.

There is a recognition that institutions may act in their own self-interest, however there is an expectation that members adhere to Conference bylaws and the enforcement of Grant of Rights agreements.

This is a time of dramatic change within intercollegiate athletics that presents both opportunities and challenges, and the Big 12 Conference looks forward to continuing to play a major role in its evolution.”

If OU and Texas were to leave soon, there could be major financial implications, including up to 75-million dollars each in fees, and the conference would own their TV rights through the summer of 2025.