SEC presidents and chancellors will meet this week to discuss adding Oklahoma and Texas, both Ross Dellenger of Sports Illustrated and Heather Dinich of ESPN are reporting. The meeting, scheduled for Thursday, will mark another step in seismic conference realignment as the two powerhouses make their departure from the Big 12 and likely help form the first 16-team superconference. 

The Sooners and Longhorns could make their intentions of joining the SEC known as soon as Tuesday by filing a formal letter to the conference, according to Jasoon Whitely of WFAA. A SEC source told Dinich and Mark Schlabach of ESPN that the two schools could officially seek membership as early as this week but did not identify a specific date. Also unknown is whether the conference's decision-makers would actually vote on adding Oklahoma and Texas due to the amount of work involved with television contracts. 

"There's a lot to do in a short amount of time in order to get to a vote by Thursday," the source told ESPN.

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Should a vote take place, though, 11 of the conference's 14 members -- a three-fourth's majority -- have to vote in favor of expansion. Yahoo Sports' Pete Thamel has reported that "getting 11 of the 14 votes doesn't appear to be an issue."

In a joint statement on Monday, Oklahoma and Texas said they will not renew their grant of rights agreement with the Big 12, paving the way to join the SEC. The two schools added that they planned to honor their existing media rights agreements through its expiration in 2025. Whether they actually follow through is another story. 

Should Texas and Oklahoma leave the Big 12 early and perhaps make their SEC debut in 2022, each could owe up to $80 million to the Big 12 as a penalty for leaving before the TV rights contract expires. Under Big 12 bylaws, OU and UT are required to give the conference 18 months notice of their departure.