Colorado has been mulling a return to the Big 12 this offseason, and the Buffs are on the verge of leaving the Pac-12 per multiple reports Wednesday evening.

That news surfaced after Colorado held a Board of Regents meeting to discuss the move, and a “Special Board Meeting” has been scheduled for Thursday. ESPN’s Pete Thamel reported that the discussions are centered around a move to the Big 12, and he also reported the Big 12 will hold a meeting of league presidents Wednesday evening.

Brett McMurphy doubled down on Wednesday reports, saying that Colorado is leaving the Pac-12 to return to the Big 12, effective in 2024. If the move indeed goes through, Colorado will receive a full Big 12 share from the ESPN/FOX media deal in its first season.

That full share of the Big 12 deal is around $31.7 million. McMurphy also reported Colorado leadership preferred the stability of the Big 12’s current deal as opposed to the Pac-12’s ongoing uncertainty.

Colorado went 1-11 on the football field a season ago before bringing in Deion Sanders to lead the football program. As “Coach Prime” works to turn the Buffs around, it looks like another chapter in the realignment saga is about to be written.