package was for the additional season games the addition of Utah and Colorado and that were not covered by the existing TV deal.

http://sports.espn.go.com/los-angeles/ncf/news/story?id=5996230

You are correct about the Big 12 TV contract. They are getting paid as if they have 12 members. The addition of two more schools will not reopen negotiations. And the $260M you mentioned was for last fiscal year. That will grown incrementally each year. CFP adds another $50M to their coffers this year and that will also increase through the life of the agreement. In the years that the Sugar Bowl is not a semi-final bowl, the Big 12 and the SEC will each receive $40M.

Taking all of this into account means that any new school means that they have to generate $55M+ in net, new revenue.