OFFICIAL: Texas staying in the Big 12

UPDATE: Texas A&M statement
From the AP: “Texas A&M is a proud member of the Big 12 Conference and will continue to be affiliated with the conference in the future,” school president R. Bowen Loftin said in a statement.

Officials at Oklahoma State and Oklahoma issued similar statements, with OSU president Burns Hargis singling out Big 12 commissioner Dan Beebe for his “bold moves and intense efforts.” (see updated story at bottom of this post.)

From the AP: Texas says it is staying in the Big 12.

Shortly after Pac-10 commissioner Larry Scott confirmed to The Associated Press in an e-mail that the University of Texas had declined an invitation to join his conference, the Longhorns put out a statement saying they would “continue competing in the Big 12.”

Oklahoma and Texas A&M also say they will stay in the Big 12, which on Friday seemed in danger of falling apart after Nebraska and Colorado both decided to leave over the next two years.

Texas president William Powers Jr. wouldn’t give any details about why the school decided to stay put when asked by the AP. The school has scheduled a news conference for Tuesday morning.