College football realignment updates: Latest news as Texas, Oklahoma reportedly leave Big 12

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(Credit: Getty Images)

The Big 12 is slowly becoming anything but "Big" or "12" (well, really, 10). 

247Sports' Chip Brown reported on Thursday that both Oklahoma and Texas will inform the conference on Monday they will not renew when the league's grants of rights expire in 2025, which sets in motion the chance to join the SEC.

The Sooners and Longhorns look to join the ranks of the SEC — something that might not be exactly destined to happen. Should OU and Texas apply to become members, a vote from the SEC would be required to get them to join. Should three members vote against the teams joining, Texas and OU would be forced to find another home. That said, it's expected that both schools will be given the OK to join up with the SEC.

MORE: Big 12 conference's best realignment options | Sankey should say 'no' to Texas, OU

There's also a question of money: The schools would owe the conference roughly $80 million apiece or more to break out of the Big 12, a hefty price tag to pay.

The news of the two schools wanting to join the SEC is the latest in a massive, massive year for college football: Realignment, playoff expansion, NIL rights and immediate transfer elgibility have all shaken the nation's schools. Realignment could be the biggest development of all the landmark changes, as these coming decisions could affect college football for decades.

Here's the latest on the sport's pontential realignment:

College football realignment updates, news

The latest information on a wild few days (and more forthcoming) in college football will be detailed below:

July 28

Big 12 commissioner Bob Bowlsby sent ESPN a cease-and-desist letter, alleging the network has been working to destabilize the conference by "encouraging" other conferences to add teams, in part through offering those conferences incentives.

ESPN is a broadcast partner of the Big 12. If the conference dissolves, then the network could get out of paying the reported $1.06 billion it owes the conference through 2025.

Bowlsby told Yahoo Sports' Pete Thamel the network was guilty of tortious interference. Bowlsby has not presented evidence to support his claims.

ESPN told Thamel: "The claims in the letter have no merit." 

July 27

— Texas and Oklahoma take the next step, officially reaching out to the SEC and asking for an invitation for entry to the conference in 2025. 

— SEC commish Greg Sankey releases a statement acknowledging the request of the two schools:

July 26

—Texas and Oklahoma made it official, declaring it will not renew their grants of media rights when they expire in 2025. The schools issued a joint statement. The next step will be for Texas and Oklahoma to formerly reach out to the SEC and ask for an invitation.

July 23

— The Athletic's Bruce Feldman reports that the remaining eight members of the Big 12 — Baylor, Iowa State, Kansas, Kansas State, Oklahoma State, TCU and West Virginia — have begun crafting "contingency plans" that may lead to a merger with the Pac-12 conference.

— Mike Vernon, formerly of Bleacher Report, reports that Kansas and Iowa State have begun speaking with the Big Ten conference, potentially eyeing a jump from the Big 12.

— 247 Sports' Chip Brown reports that both Oklahoma and Texas are preparing to leave the Big 12 and join up with the SEC. A vote could be coming in the following weeks to allow (or deny) both schools to move in.

-- Stadium's Brett McMurphy said SEC presidents held a regularly scheduled meeting on Thursday and it is unknown if any other schools besides Texas A&M object to Texas and Oklahoma joining the league.

July 22

— Amid uncertainty with their conference, reports indicate that Oklahoma and Texas are both leaning to leave the Big 12 conference, as both schools didn't take part in a Big 12 conference call this evening.

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