Texas A&M notifies the Big 12 it is leaving next June

Texas A&M announced Wednesday it has notified the Big 12 Conference of its intention to leave the league next June.

In a release on its website, the school said it will seek membership in another conference, which is expected to be the Southeastern Conference.

"After much thought and consideration, and pursuant to the action of the (Texas A&M University System) Board of Regents authorizing me to take action related to Texas A&M University's athletic conference alignment, I have determined it is in the best interest of Texas A&M to make application to join another athletic conference," President R. Bowen Loftin wrote to Big 12 Commissioner Dan Beebe in the letter dated August 31, 2011.

"We appreciate the Big 12's willingness to engage in a dialogue to end our relationship through a mutually agreeable settlement," Loftin added. "We, too, desire that this process be as amicable and prompt as possible and result in a resolution of all outstanding issues, including mutual waivers by Texas A&M and the conference on behalf of all the remaining members."

School spokesman Jason Cook said on Twitter that A&M would have no formal press conference Wednesday regarding the statement.

Texas A&M was a member of the Southwest Conference until that league broke up and four schools moved to the Big 12 in 1996.

Its announcement Wednesday comes on the 15th anniversary of the first Big 12 football game played between Kansas State and Texas Tech in Manhattan.

Now the Aggies will leaving their traditional rivalries with Texas, Texas Tech and Baylor behind as it likely moves East to the SEC.

"As I have indicated throughout this process, 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," Loftin said. "This is a 100-year decision that we have addressed carefully and methodically. Texas A&M is an extraordinary institution, and we look forward to what the future may hold for Aggies worldwide."

Texas A&M is facing a significant loss of revenue when it leaves the Big 12. Last year, Nebraska's departure to the Big Ten cost the school more than $9 million and Colorado gave up more than $6 million to join the Pac-12 last summer.

A&M's penalty likely will be stiffer because the 10 schools in the league agreed to $1 billion television deal with Fox last April and because its announcement comes less than one year before it intends to leave the conference.

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