Any Hail Mary the Big 12 had in mind to keep Texas and Oklahoma in the conference has fallen incomplete as the two founding members of the league are leaving.

That’s the latest from Austin as Chip Brown of 247Sports is reporting that both schools are leaving with the intent of joining the SEC:

Texas and Oklahoma, the founding members of the Big 12, are leaving the league –¬†and barring any unforeseen developments, will join the Southeastern Conference, a high-level source close to the situation told Horns247.

Brown’s report comes after Kirk Bohls of the Austin American-Statesman shared that Texas and Oklahoma have been working on a move to the SEC for six months and could officially announce their intentions to leave the Big 12 next week.

The current Big 12 TV contract runs through the 2025 season. If Texas and Oklahoma decide to leave the Big 12 before the end of that deal, they would owe the league over $75 million in TV rights fees.