One thing I keep seeing come up is that OU/UT decided to leave once ESPN said they weren't interested in early contract negotiations back in May. I see that as a smoke screen as the timeline doesn't add up to me.
According to sources within the Big 12, one of the first warning signs for Oklahoma and Texas came in May, when a media consulting firm indicated the league probably wouldn't be in position to greatly enhance its media rights deals with ESPN and Fox once they expire. Texas Tech president Lawrence Schovanec told the Lubbock Avalanche-Journal in May that those networks declined to open early negotiations on a new deal because of the changing landscape of college sports and how consumers watch sports.
"The general result is that, at this time, with so much uncertainty in the media marketplace as well as the landscape for collegiate athletics, our partners, ESPN and Fox, are not interested in acting preemptively with regard to our contract," Schovanec told the Avalanche-Journal. "They recognize the importance of our partnership, but there's just too much uncertainty, and they do have four years to go. So we'll wait until we get to the right place and time."
One source within the league said he had heard rumblings about the possibility of Texas wanting to leave, but added "nobody saw this coming."
Or, maybe they weren't interested in talking to the Big XII because they had already been talking to OU/UT behind the scenes and decided...nah, we're good.