Forget the rumor mill, this is straight from the horse's mouth:
Texas A&M University today officially notified the Big 12 Conference that the institution will submit an application to join another athletic conference. Should this application be accepted, Texas A&M will end its membership in the Big 12 Conference effective June 30, 2012
"After much thought and consideration, and pursuant to the action of the (Texas A&M University System) Board of Regents authorizing me to take action related to Texas A&M University's athletic conference alignment, I have determined it is in the best interest of Texas A&M to make application to join another athletic conference," President R. Bowen Loftin wrote to Big 12 Commissioner Dan Beebe in the letter dated August 31, 2011.
This news release from the school doesn't specify which other conference the school will seek to join, but we all know they're not looking to anchor the WAC for the next century. The official application to the SEC is coming next, which would be followed by a vote by SEC presidents on whether to let A&M in. There's no way we'd get this far in the process if TAMU didn't already know the outcome of the vote, and for image's sake (if nothing else) you can bet it will be a unanimous vote.
"As I have indicated throughout this process, we are seeking to generate greater visibility nationwide for Texas A&M and our championship-caliber student-athletes, as well as secure the necessary and stable financial resources to support our athletic and academic programs," Loftin said.
No conference has a better setup for visibility in football, given the SEC's contracts with CBS and ESPN. The SEC offers lots of money and stability as well, so from that standpoint, it's not hard to understand where this all came from.
Your move, SEC presidents.