That he was informed by ESPN that once Texas and Oklahoma exit the Big-12 the existing Media deal running at 40.9 million this year will drop 14 million. That reduces it to 26.9 and whatever annual bump it seems to be getting.

Supposedly Texas got mad and decided to leave because ESPN would not bump the Big-12 payout to SEC level. ESPN said it would not renew at that level but it would do a lesser level. The implication is that the Big-12 after Texas and Oklahoma can expect something around 25 million per member. It will have the usual clauses, adding or losing members, adding a Championship Game, etc.