“Big 12 bylaws state that members that plan to leave the conference are required to give 18 months notice and pay an exit fee that is equal to two years of revenue distributions.

Last year, the Big 12’s revenue distribution was around $34.5 million per school and there were signs that it was headed toward $40 million prior to the pandemic. So that means a total of somewhere between $75-80 million EACH for OU and Texas to leave.”