Oklahoma and Texas officially notified the Big 12 on Monday that they will not be renewing their grants of media rights after their expiration in 2025, according to a joint statement released by both schools.
Big 12 sources told ESPN on Monday that the statement leaves some "wiggle room" and doesn't fully guarantee that the flagship schools would remain in the league through 2025. The possibility remains that they will pay the $75-80 million penalty for leaving early, while also giving the required 18 months' notice, per Big 12 bylaws. Some have speculated that this is the first legal maneuver, and the possibility also exists that if the Big 12 dissolves before 2025, OU and Texas would no longer be bound to stay through the duration of the contract.
So they want the appearance of trying to shop him, but they want to keep him. Maybe a smart PR move--
"We tried to trade him, ladies, but nobody would take him. So, we had to keep him. We are going to require some counseling, mind you."