2023 will be the Colorado Buffaloes‘ final season in the Pac-12, according to a report from Action Network college football insider Brett McMurphy.

McMurphy also reports that the move will be announced when the Colorado Buffaloes officially apply for Big 12 membership on Thursday. This will have a quick turnaround too, as the Big 12 Board of Directors is expected to approve CU’s move to the Big 12, with play starting in 2024.

The return to their old stomping grounds will also be lucrative for the Buffs, as they’re expected to get at least $31.7 million annually in media rights revenue and an estimated $42 million in Big 12 revenue share.

In the Pac-12, the Colorado Buffaloes were earning approximately $37 million. $20.8 million of that came from the media deal.

The stability of the Big 12 conference and how that contrasted with the Pac-12, which has yet to secure a media rights deal and has an uncertain future sans UCLA and USC, was a major driving factor in the decision for CU, per McMurphy.

The Buffs’ departure will only amplify the Pac-12’s instability and decrease the conference’s chances of receiving a favorable media deal, which could lead to other schools West Coast schools joining the Big 12. McMurphy reports Utah, Arizona State, and Arizona are the leading candidates, and that Arizona’s president met with Big 12 commissioner Brett Yormark during the Final Four.