We Apologize! Correction on the Big 12 Story on OU and Texas Departing

STILLWATER – Our apology, and actually my apology to all who read our story The Wait is Over: Ou and Texas Out After 2023-24 for the inaccurate financial figure on the agreement. We initially reported that Oklahoma and Texas would each forego two-years of conference revenue for close to $100 million each being paid to the existing Big 12 schools. The correct figure is an estimate $100 million total coming from the two schools. 

I (Robert Allen) take the blame for that and our sources on the story were not at fault. This was my mistake. It has been corrected on our story. Also, we will soon be bringing you more details on the agreement. Our understanding is it is complicated and brings in other potential concessions in the agreement struck between the two schools and their soon-to-be former conference. 

Further, Oklahoma and Texas are responsible for making FOX Sports happy with the split which comes with one year remaining on the current television right contract and the grant-in-rights that was holding Oklahoma and Texas in the Big 12.

“The amount had to go where it did because outherwise Oklahoma and Texas were going to stay in the conference,” one source told Pokes Report. “There were multiple initiatives for us as a conference that we could not entertain with Oklahoma and Texas still lingering as members. We needed them to go.”

Another person closely involved with the situation said, “It is a very complicated settlement and needed to be explained to the Big 12 Board (of Directors) by the attorneys and not the commissioner. It will gradually come out and it was a better deal than might look on the surface.”

The grant-in-rights that the Big 12 is allowing Oklahoma and Texas out of called for any school in violation and leaving the conference therefore violating the grant-in-rights to play $168 million. 

We appreciate your understanding and we (I) will strive to do better.