Texas and Oklahoma are joining the SEC in 2024 after all. Less than a week after it was reported that early exits from the Big 12 for Oklahoma and Texas appeared unlikely, an agreement has been reached between the teams and the conference.

Texas and Oklahoma will owe the Big 12 $100 million total (to be withheld in distributed revenue) to leave after the 2023-24 athletic year, meaning the Longhorns and Sooners will be part of the SEC in time for fall 2024 sports, including football.

Big 12 Commissioner Brett Yormark said the move helps the conference move forward with its plans for a 12-team league. The conference will have 14 teams for the 2023-24 season.

“As I have consistently stated, the Conference would only agree to an early withdrawal if it was in our best interest for Oklahoma and Texas to depart prior to June 30, 2025,” said Commissioner Brett Yormark said in the conference announcement. “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. I appreciate the approaches of OU President Joe Harroz and UT President Jay Hartzell to ensure an amicable conclusion to this process, and look forward to the bright days ahead for the Big 12 Conference.”

As was reported when the early exit talks appeared to be dead, TV partners FOX and ESPN played key roles in negotiating the move for 2024, per Sports Illustrated’s Ross Dellenger.