On Thursday afternoon, Texas A&M officially notified Big 12 commissioner Dan Beebe and the rest of the conference that the school is "exploring options related to the institution's athletic conference affiliation." In other words, the Aggies let the seemingly hapless commissioner know that the school is on the way out of league, requesting that the conference outline the withdrawal process.
Here's the statement from Texas A&M president R. Bowen Loftin:
As I have indicated previously, we are working very deliberately to act in the best long-term interests of both Texas A&M and the State of Texas. This truly is a 100-year decision. While we understand the desire of all parties to quickly reach a resolution, these are extremely complex issues that we are addressing methodically.
Ultimately, we are seeking to generate greater visibility nationwide for Texas A&M and our championship-caliber student-athletes, as well as secure the necessary and stable financial resources to support our athletic and academic programs. As a public university, Texas A&M owes it to the state's taxpayers to maximize our assets and generate additional revenues both now and well into the future.
In terms of generating additional revenues, the Aggies might not actually make more money in the near future in the SEC, according to Pete Thamel of the New York Times, who notes that the average member of the conference receives $18 million dollars, less than the $20 million the Aggies are slated to receive from the Big 12. Additionally, the Big 12's television deal expires in four years, while the SEC is locked in until 2025, though it could be re-negotiated before that time. Throw on top the exit fee from the Big 12 that could reach $15 million and suddenly the Aggies stand to lose a significant amount of money overall.
But, whatever you want to do Aggies. Just GTFO and don't expect to ever play Texas again in football.