The Baylor scandal makes me even more in favor of restructuring college football into a structure of 8 8-team conferences with each conference tied to a lower tier conference for relegation. 7 conference games, 4 OOC games and an expanded playoff.
When $#@! like the Baylor scandal comes up, the conference would have the ability to vote relegation as a punishment. If the Big 12 were tied to the same conference as U of H, then U of H arguably could be elevated to take Baylor's place. The difference in conference payouts alone (with expanded playoff) would be at least $30 million/year. Hence, for major infractions, the conference by itself could impose upward of a $50 million penalty (adding in reduced payouts from apparel contracts, radio rights, etc, etc) on any team.
Then Baylor would have to be voted on to have made sufficient reforms to be eligible to play for the lower conference championship for a chance to relegate another team and rejoin the Big 12.