(Irving, TX) -- The Big 12 is responding after the Universities of Texas and Oklahoma moved forward with their effort to leave the conference. Commissioner Bob Bowlsby released a statement saying the remaining members are "disappointed" with Texas and Oklahoma deciding not to renew their media rights once they expire in 2025. However, the conference admitted college athletics is dealing with a "rapid change." The move by the bitter arch-rivals comes amid heavy speculation that both will move to the Southeastern Conference, more commonly known as the SEC. The statement from Bowlsby described the other schools as the "remaining eight institutions," further suggesting that Texas and Oklahoma are on their way out.