(03-17-2022 03:29 PM)AssKickingChicken Wrote: If TX and OK are still in the Big XII in 2023, will the AAC members still move in then? If not, does the AAC want a 17 member league?
The Big XII has been on record that the three will move in 2023 if they can negotiate their exit with the American, regardless of whether Texas and Oklahoma are still in the conference.
The Big XII is a whole different animal regarding exit fees. Their bylaws are much more iron clad.
• Regardless if Oklahoma and Texas fulfill required time in the Big 12 through the end of the Grant of Rights in 2025, the two universities will still
be required pay exit fees of $80 million each
• The Grant of Rights is a separate entity financially outside of the exit fees as part of being in the Big 12.
• Though the Big 12’s hope is that Oklahoma and Texas would leave the league by the summer of 2023,
the two departing universities have yet to file the 27-month exit timeline to begin process of leaving to join SEC.
• The $80 million per university in exit fees can still be negotiated, but
as of this time it is not being negotiated.
•
If there are any delays or
fighting of exit fees from Texas or Oklahoma, Big 12 commissioner Bob Bowlsby has right to
add additional fees on top of the original fees. It’s believed that there will be additional penalties added.
• There are three processes that can be utilized to settle on the Grant of Rights: The Big 12 can sell the GOR back to Oklahoma and Texas, retain the GOR or let the two universities walk to the SEC.
• If the Big 12 elects to retain the GOR and Oklahoma and Texas make the move to the SEC, all money accumulated in television revenue by the two universities would be distributed to the Big 12.
•
If Oklahoma and Texas make the departure of the Big 12 ugly and drags out legally, the $80 million exit will be a minor part of what will eventually be paid by the two universities.
https://sicem365.com/s/10774/exit-negoti...the-big-12