I'd say Fox is overplaying its hand, but as you state, that's what you do during a negotiation, in order to anchor the negotiation in terms that lean toward your own favor.
But another thing that some folks seem to be forgetting, is that Fox doesn't HAVE to do anything. They're being asked to make concessions in order for Texas and OU to leave sooner, but if they choose NOT to make concessions, it's not like they're doing anything wrong.
I've seen various parties accusing Fox of "throwing a tantrum" or "holding up the deal." Those are incorrect statements with an inappropriate tone. Fox would be insane to give up its contractual rights, without expecting compensation for it. But the other thing to remember is that Texas and OU don't have a contract with Fox. The B12 does. Texas and OU have contracts with the B12.
So if Texas and OU want to leave early, Fox can't stop them, at least not directly. All they can do is deny concessions that would make the departure easier, and tell the B12 they'll be paying less in 2024, if Texas and OU inventory is not included in the conference deal.
So that's when the B12 negotiations with TX and OU come into play-- if Fox can't be convinced to make concessions, then the B12 must attempt to make it more expensive for Texas and OU to leave. And that's the part of the negotiation we're at, as of today.
What concessions will Fox be willing to make and what do they expect in return? Then, how does that affect what the B12 attempts to recover from Texas and OU? And finally, what are Texas and OU willing to pay, to satisfy the B12's desired recovery?