Oklahoma will discuss conference realignment at its Board of Regents meeting on Monday, the school announced on Thursday afternoon.
An agenda sheet for the meeting on Monday, noted the school would discuss potential legal ramifications of athletic conference realignment options and/or consider new athletic conference membership and take any appropriate action.
The agenda item had an asterisk next to it indicating the matter could be discussed in public or in private session.
There has been a tremendous amount of recent buzz that Oklahoma and in-state companion Oklahoma State could leave the Big 12 and head to the Pac-12.
Chip Brown of OrangeBloods.com reported earlier in the week that the Regents had unanimously agreed in private to the school's move to the Pac-12 and an official announcement should come in the next two months.
Oklahoma President David Boren told reporters last week that multiple conferences were interested in adding the school and that it was seeking stability in its conference alignment.
Texas reportedly met with Oklahoma last Sunday to try to convince the school to stay in the Big 12, but early reports by Brown and the Austin American-Statesman indicated the meeting didn't go as well as Texas hoped.
In addition to discussing new conference alignment, the school is discussing the legal ramifications, in part due to the current limbo Texas A&M finds itself in. Texas A&M publicly expressed interest in the SEC and was extended an invite, but cannot officially join the conference until all Big 12 schools agree to waive their rights to sue the SEC.
Big 12 commissioner Dan Beebe had privately promised SEC commissioner Mike Slive that no school would sue, but schools such as Baylor and Iowa State have refused to waive their right to sue. It still is a foregone conclusion that Texas A&M will go to the SEC, but Oklahoma likely wants to consider all options so it doesn't find itself in a similarly public battle.
Should Oklahoma leave for the Pac-12, it could set off a chain of events that'd ultimately doom the Big 12. A&M is already on the way out and reports earlier this week indicated that Texas could move to the ACC if Oklahoma and Oklahoma State leave the conference.