Report: Texas, Oklahoma make formal plans to leave Big 12

Texas and Oklahoma are making formal plans to notify the Big 12 Conference that it will not renew its contract when the league's grant of rights expire in 2025, according to multiple reports. The news was first reported by 247Sports. 

The formal notification will allow the SEC to officially begin deliberations on whether to add the longtime national powers as member institutions. Simply leaving the Big 12 does not implicitly mean that Texas and Oklahoma have cemented their spots in the SEC. Both will evaluate all their options, though momentum for a move to the SEC is rapidly increasing.