IRVING, Texas -- One day after voting down a rule proposal that would've made quarterback Baker Mayfield eligible at Oklahoma for the 2017 season, the Big 12 is reconsidering the rule change with different language, several sources confirmed to ESPN.com.

The rule-change proposal, which failed to generate the necessary majority to pass after a 5-5 vote Wednesday among the Big 12's faculty athletic representatives, would've allowed walk-ons to transfer within the Big 12 without losing a season of eligibility.

Baker Mayfield, a Texas Tech walk-on who later transferred to OU, would gain a year of Big 12 eligibility if the conference changes its rules. Joel Auerbach/Getty Images

Sources said part of the new language being discussed would allow a walk-on's school to offer a scholarship to keep him. If the walk-on then still elected to transfer within the conference, the player would face the league's transfer eligibility restrictions.

This rule has prominently been debated in the context of Mayfield, who transferred from Texas Tech after walking on his freshman year. Mayfield sat out the 2014 season before becoming the starting quarterback for the Sooners in 2015. Mayfield finished fourth in the Heisman voting after throwing for 3,700 yards and 36 touchdowns. He was named the Big 12 Offensive Player of the Year and guided the Sooners to a Big 12 title and an appearance in the College Football Playoff.

Without a rule change to the Big 12 rules concerning intra-conference transfers, Mayfield will be out of Big 12 eligibility after this season. He would, however, be eligible to transfer outside the Big 12 and play his final season of eligibility elsewhere, including another Power 5 conference.

The Big 12 presidents and athletic directors are holding their annual meetings in Irving. The presidents will also meet Friday morning.