SEC expansion won't take place until the 2025-26 academic year.

Per ESPN's Pete Thamel, Texas and Oklahoma were unable to come to terms during a "complex negotiation" that included both schools, the Big 12 and television networks ESPN and Fox that would have allowed them to move to the SEC after the 2023-24 academic year.

Oklahoma athletic director Joe Castiglione and Texas athletic director Chris Del Conte told reporters in July their schools intended to remain in the Big 12 until 2025.

"We realize we've made a decision, and we're focused on being a great member through the time we said we would," Castiglione said. "There's a lot changing around us. If that facilitates a conversation that needs to take place about an earlier departure, then it does."

In December, The Athletic's Stewart Mandel, Max Olson and Andy Staples noted there have been discussions happening "for several months," with both schools trying to negotiate an early exit before the start of the 2024 football season.

One person with knowledge of those discussions told Mandel, Olson and Staples it was "likely" the Longhorns and Sooners were going to leave early.

The 2024 football season marks the first year of a new 10-year television agreement between ESPN and the SEC. The Big 12 recently extended its television deals with ESPN and Fox through the 2030-31 season.

CBS has been the primary television home for SEC football since 1996, but the network opted not to renew its deal with the conference that expires after 2023.

The 2024 season also marks the first year of the new 12-team College Football Playoff format.

The board of regents at Texas and Oklahoma unanimously voted to accept an invitation to join the SEC in July 2021. The two schools could have paid up to $168 million combined to the Big 12 if they wanted to leave early.

Adding Oklahoma and Texas will give the SEC 16 teams. The Big 12 is adding BYU, Central Florida, Cincinnati and Houston starting with the 2023-24 academic year.