Talks for Oklahoma and Texas' early exit to the SEC in 2024 have stalled and a deal is unlikely to be made, sources told Pete Thamel of ESPN.
The Sooners and the Longhorns are now expected to remain in the Big 12 until 2025, adds Thamel.
While negotiations are not "officially dead," an agreement won't happen "unless somebody blinks," sources told Brett McMurphy of Action Network.
Oklahoma and Texas need to agree to an early exit with their current conference, while big-money TV deals with ESPN and Fox also have to be amended.
Although negotiations reportedly heated up over the past few days, how to create equitable value for what Fox would lose in 2024 was a major sticking point.
The Big 12's board will have a prescheduled meeting Friday in Dallas, according to Matt Fortuna of The Athletic.
The SEC formally announced Oklahoma and Texas would join the conference in July 2021. The two schools' decision to reach out to the SEC several weeks before the move was officially sealed stunned the rest of the college football world.
