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A&M Get Exit Explainer From Big 12; One Step Closer To Leaving

Last week, Texas A&M asked the Big 12 for a breakdown of the league’s exit procedures.  Today, A&M officials received such a letter.  The Fort Worth Star-Telegram reports that the letter outlined “procedures according to the financial provisions of Big 12 bylaws and mutual waivers of legal claims.”

The fact that both parties are waiving legal claims could speed things up — as expected — to the point that Texas A&M might unite with the SEC by week’s end.  (That, at least would be the school’s goal… as usual, the SEC office is remarkably leak-free.)

At this stage, A&M still needs to work out its exit fee, officially withdraw from the Big 12, officially apply for membership in the SEC, and then hope that nine of the league’s 12 presidents and chancellors give a thumbs-up vote to an Aggie invite.

As for the money, it has been estimated that the Big 12 wants $28 to $30 million in exit fees and forfeited money from the Aggies.  A&M, reportedly, would like to work that number closer to the $9 million fee Nebraska paid to escape the Big 12 last year.  Some reports have suggested the final number may wind up somewhere in the $10-20 million range.

A&M president R. Bowen Loftin (that’s him at left) released a statement this afternoon saying that it is not his school’s “intent to prolong our conference exploration for an extended period of time.”

In related news, Notre Dame has already made it clear to The Austin American-Statesman that Texas AD DeLoss Dodd’s dream of adding the Irish to the Big 12 is just that — a dream.  “Our priority — and our clear priority — is maintaining our football independence and continuing to build our relationship with the Big East with our other sports,” said Notre Dame AD Jack Swarbrick.

So perhaps now the Big 12 can begin chasing its #2 candidate — Arkansas — and get on with the business of receiving yet another “thanks, but no thanks.”

 




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