Baylor has refused to waive its right to sue in hopes of preventing Oklahoma leaving the Big 12, according to ESPN.

ESPN's Andy Katz reports that Texas and Texas Tech have both agreed to waive their rights, but that Baylor is holding strong in its game of chicken against Texas A&M and the SEC.

The SEC unanimously voted  to extend Texas A&M an invite to be its 13th school on Tuesday, but cannot officially accept the school until all Big 12 schools waive their rights to sue the conference.

Big 12 commissioner Dan Beebe had privately assured SEC commissioner Mike Slive that no Big 12 school would threaten to sue, but all that changed on Wednesday when it was leaked that Baylor was trying to hold up the proposed move.

The Waco Tribune-Herald later reported that Iowa State, Kansas, and Kansas State would join Baylor in refusing to waive their rights. Part of the reasoning behind the move is to prevent Oklahoma bolting to the Pac-12, as has been rumored.

We are not aware of any SEC demand directed at Iowa State University. We have not waived our legal rights to sue, Iowa State spokesman John McCarroll told reporters on Thursday.

After publicly wiping egg off his face for some Big 12 schools refusing to wave their rights, Beebe admitted that Texas A&M's move could negatively financially impact remaining schools.

If the departure of Texas A&M results in significant changes in the Big 12 membership, several institutions may be severely affected after counting on revenue streams from contracts that were approved unanimously by our members, including Texas A&M, Big 12 commissioner Dan Beebe said in a statement Thursday. In some cases, members reasonably relied on such approval to embark on obligations that will cost millions of dollars.