Big12 teams have nowhere to go and have no choice but to stay together in order to collect the TX/Okla exit fees along with the remainder of their ESPN contract.
They stick together as a conference but individual members would absolutely jump at the first oppty to be a part of the P4. However none move the needle for other conferences and they are resigned to the B12.
ESPN negotiates a buyout of their B12 agreement, but the B12 refuses to let TX or Okla negotiate out of any of their exit fees owed.
The B12 adds BYU along with Cincy to help stabilize the conference. BYU does it because they simply have to be in a conf now. Indy is no longer a viable option in the pending Playoff 12 era. The conf they join needs to be a "P5" conf if they want to avoid any cancellation fees from any future scheduling contracts they need to cancel. The B12 is their ONLY possible option that will tolerate their religious affiliation. The B12 does it because it is the only school that adds any additional value to a future TV contract.
The B12 negotiates a new contract with the Fox along with another streaming entity, but it is short term due to the conferences' volatility.
Meanwhile the Pac12 has 6 schools migrate to the B1G (Cali schools w. Ore and Wash).
The Big12 scoops up the AZ schools and Colorado. At that point they consider other schools like Boise, SDSU and maybe even UCF/SF to capture FL. They also add Gonzaga and Wichita State to create the strongest basketball conference in the nation.
Also, in case you were wondering, Utah was left out of the B12 because they previously picked up BYU that easily delivered the Utah market. Fortunately Utah (now called the Red Hawks) is picked up by the MWC along with the other P12 refugees, however recruiting and winning takes a huge hit. BYU then proceeds to beat Utah in football 10 times in a row.
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