Colorado unanimously approved a resolution Thursday allowing the CU-Boulder campus to leave the Pac-12 and rejoin the Big 12 in 2024.

The long-rumored departure is now official. Colorado had reportedly grown frustrated in recent weeks with the lack of a media rights deal in the Pac-12. On Thursday, Chancellor Philip DiStefano and Athletic Director Rick George issued a joint statement on the departure that pointed directly to that frustration.

“After careful thought and consideration, it was determined that a switch in conference would give CU Boulder the stability, resources, and exposure necessary for long-term future success in a college athletics environment that is constantly evolving,” the statement read. “The Big 12’s national reach across three time zones as well as our shared creative vision for the future we feel makes it an excellent fit for CU Boulder, our students, faculty, and alumni.

“These decisions are never easy and we’ve valued our 12 years as proud members of the Pac-12 Conference. We look forward to achieving new goals while embarking on this exciting next era as members of the Big 12 Conference.”

CU president Todd Saliman also commented on the move.

“I want to thank the Pac-12 Conference for the home it has provided to CU athletics for more than a decade. We look forward to maintaining the many partnerships developed with our Pac-12 colleagues,” Saliman said. “The landscape of collegiate sports is ever-evolving, and the University of Colorado Boulder has determined the Big 12 is the best future fit for our athletic teams.

“The move is good for our student-athletes and the university. It will help advance our commitment to supporting CU student-athletes in their academic and athletic pursuits in future years. I look forward to a great season ahead for all our teams.”

The Pac-12 will drop to nine members when CU leaves. USC and UCLA are moving to the Big Ten in 2024. With the league’s media rights negotiation lingering on, things look bleak in the Pac-12.

The Big 12 has reportedly assured CU it will receive a full share of the per-school revenue from its next media rights deal.