A new report, from CBS Sports' Dennis Dodd, suggests that the future of the Big 12 could be in jeopardy, but it won't be until 2025 at the earliest.

The conference will not extend its current grant of rights contract, which binds the 10 member schools together, after the deal expires in 2025, a source told Dodd. The report also states that there is "no tangible momentum" for conference expansion, which the Big 12 announced plans to begin interviewing candidates for in July.

The grant of rights contract states that if a school were to leave the Big 12 prior to the expiration of the current 13-year, $2.6 billion media rights deal signed with ESPN and Fox in 2012, then the conference would retain the TV rights to that program's basketball and football games.

Realistically speaking, no school would likely entertain leaving prior to the end of the deal, which would mean forfeiting its chunk of the revenue each Big 12 school receives every year from the media deal. It's either that, or a fight with the Big 12 in court, which could be a difficult battle to win.

Recently, a source told ESPN that the Big 12 could be nearing its expiration because of Texas' and Oklahoma's unwillingness to agree to an extension. Dodd's report echoed those sentiments, but he also mentioned optimism for the conference potentially remaining intact.

"None of it necessarily mean the league is on life support," Dodd wrote. "There continues to be a worth to advertisers of having a major conference in the middle of the country. In addition, Texas and Oklahoma may eventually decide their best chance of winning championships continue to be in the Big 12."

These are the current 11 finalists for potential Big 12 expansion: Houston, Cincinnati, BYU, UCF, South Florida, Air Force, Connecticut, Colorado State, Tulane, SMU and Rice. Big 12 executives are expected to meet on Oct. 17 to discuss a range of topics, including expansion.

However, there is no clear indication of what the next move from the Big 12 will be. Much of the future of the conference seems to be up in the air.