Official: Texas, Oklahoma to join SEC in 2024

Turns out, Pete Thamel's tweet declaring negotiations for Texas and Oklahoma's early exit from the Big 12 were dead was just the kickstart they needed for all parties to make a deal. Six days later, the move is official. Texas and Oklahoma will become full members of the Southeastern Conference on July 1, 2024.

The Big 12 announces that the Conference has agreed in principle to terms with the University of Oklahoma and The University of Texas at Austin to leave the Conference following the 2023-24 athletic year, one year earlier than originally announced, subject to final approval from the OU and UT governing Boards.

The final price tag was much lower than anticipated. The Red River Rivals will owe a combined $100 million to get out early. The schools won't even have to cut a $50 million check; the schools can pay their respective numbers down by revenue generated between now and summer 2024. The Big 12 generated $42.6 million of revenue per school in 2021-22, and future numbers are expected to rise. 

What's next for the SEC: The conference has to nail down a scheduling format, soon. The conference is expected to abandon its divisional format in favor of a deregulated, free-for-all format. At issue is whether the SEC will keep its 8-game schedule with one permanent opponent and seven rotating opponents, or a 9-game format with three permanent opponents and six rotating opponents.

The 8-game format would turn games like Alabama-LSU, Auburn-Georgia, and Texas-Texas A&M into semi-annual affairs. The 9-game format would keep those games and more as permanent fixtures, but would make it more difficult for the middle and bottom of the standings to reach the postseason.

Either way, a division-less format will allow all 16 teams to play each other every other season, and it will guarantee the top two teams meet in the SEC Championship each December.

The SEC announced its 2023 schedule in September 2022. While the actual schedule may not be out until the fall, it'd be shocking if the SEC hasn't made a decision on an 8- or 9-game format by its spring meetings in May.

What's next for the Big 12: Onward and upward. 

 “By reaching this agreement, we are now able to accelerate our new beginning as a 12-team league and move forward in earnest with our initiatives and future planning," commissioner Brett Yormark said Thursday.

SI's Ross Dellenger reported Thursday that the Big 12 will "aggressively" pursue further expansion. 

Many have speculated the Big 12 could make a play for the Pac-12's Four Corners schools (Arizona, Arizona State, Colorado, Utah) but, much like how the Big Ten initially targeted Missouri before acquiring Nebraska, the conference may talk itself into going after Oregon and Washington.

What's next for everyone else: Thursday's news was the final piece in fully dividing college football into a Before and After era.

2024 will be the Big Ten's first season as a 16-team league with USC and UCLA.

2024 will be the SEC's first season as a 16-team league with Texas and Oklahoma.

2024 will be the College Football Playoff's first season as a 12-team event. 

Ready or not, the future is here.

As always, stay tuned to The Scoop for the latest.