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Earlier, The Austin American-Statesman reported the Pac-12 was working out final details to add Texas and Oklahoma to the conference, along with fellow Big 12 schools Oklahoma State and Texas Tech. The Statesman cited a source close to the situation that stressed the deal is not yet complete, but that talks were "heating up."

A source told ESPN.com's Andy Katz the move to add Texas, Texas Tech, Oklahoma and Oklahoma State still has a long way to go before the Pac-12 leadership would be comfortable recommending it to the league's presidents, who have made it clear to the league's leadership that they don't want to expand beyond 12 at this point.

The proposed deal would allow Texas to keep ESPN's Longhorn Network, though The Statesman reports the network would have to add other Pac-12 programming to the network.