Smart move actually. If that's what they need to get more money, everyone should agree to it. Their last contract was way below market. I don't think they can expect to stay on ESPN. They really need NBC to make a play or maybe do something with CBS where they do a noon lead-in game to their SEC game. Remember, a GOR means that TV rights to your home games would stay with the American for a period of time, it doesn't mean you can't leave.
BTW, here's another SBJ article. This one is about expansion.
https://www.sportsbusinessdaily.com/Journal/Issues/2018/12/03/In-Depth/College-sports.aspx
Says the likeliest destination for Texas is either B10 or ACC, just as I have always said. Also says the ACC could allow Texas to keep LHN or steal SMF's idea of allowing Texas to join for everything but football with an ND-type deal. Keep in mind, this is just the author saying this without any "inside information."
A Texas schedule could look like:
ACC
ACC
ACC
ACC
ACC
Texas A&M
Oklahoma
Texas Tech
Big-time game
Big-time game
Cupcake home game
Cupcake home game