Texas A&M Leaving Big 12

It's official. Texas A&M officially notified officials of the Big 12 Conference that they will an file application to join another conference.  If accepted, the Aggies would leave the Big 12 effective June 30, 2012.  More after the jump

In a press release from earlier this morning, President R. Bowen Loftin is quoted as saying to Big 12 Commissioner Dan Beebe:

After much thought and consideration, and pursuant to the action of the (Texas A&M University System) Board of Regents authorizing me to take action related to Texas A&M University's athletic conference alignment, I have determined it is in the best interest of Texas A&M to make application to join another athletic conference.

We appreciate the Big 12's willingness to engage in a dialogue to end our relationship through a mutually agreeable settlement. We, too, desire that this process be as amicable and prompt as possible and result in a resolution of all outstanding issues, including mutual waivers by Texas A&M and the conference on behalf of all the remaining members.

His reason for taking this action?

As I have indicated throughout this process, we are seeking to generate greater visibility nationwide for Texas A&M and our championship-caliber student-athletes, as well as secure the necessary and stable financial resources to support our athletic and academic programs. This is a 100-year decision that we have addressed carefully and methodically. Texas A&M is an extraordinary institution, and we look forward to what the future may hold for Aggies worldwide.

So what do you think?  Is this a smart move for A&M to make?