The pie barely grows but is now divided in two additional slices.

In 2011/12, when the Big 12 decided to remain a 10, a school president indicated that postseason revenue sharing was main reason for staying at 10. New members could not generate enough new postseason revenue to even maintain the current distribution.

At the time, the Big 12 was getting ≈$100M or $10M per team. To maintain that distribution level, the new schools would have to bring in a combined $20M in new revenue. The math did not justify expansion.

That reasoning when amplified when the Big 12 was given the right to host a CC, while remaining at 10.