There have been many arguments about this - ad nauseum.
I think the way to view this question is to gain some altitude and consider the desires of the schools fans as opposed to the schools administrations. Because I believe they are diametrically opposed to each other. Take UT for instance - it has never considered the fans desires as a motivator for change - ever. We have always been at the mercy and whims of the leadership and their wants and needs. And the administration wants and needs are driven by the almighty dollar.
WVU and TCU did NOT bring direct revenues - but they did bring a cohesion and stabilization of the Big 12. Even if it was only 10 teams. That is why the Big 12 will not expand unless the candidate will add revenues to the conference. And that is from the school itself, or the addition bringing more value to the conference, i.e., revenues.
IMO, the University of Texas administration considers the Big 12 as it's own personal playground and profit engine. Why would it go indy or to another conference? It has a birds nest on the ground in the Big 12. It essentially owns it and the other schools are puppets on the string for it. We are as attractive as ND and even more profitable. If we desire, we can schedule basically any team we want (remember - $$) and we have the clout (once again, read $$) to actually pursue, with some anticipation of success, other national teams as potential members of the Big 12.
You think not? I give you the Big 8 and TCU and WVU.
There is a possibility it is happening today. With the Northwestern debacle, conferences will become more and more desirable. So will the profitable programs. Conferences will be circling the wagons, I assure you. And they will be looking with a jaundiced eye at the money losers within their conferences. You don't think Baylor, TCU, KSU and Iowa State aren't concerned?
How desirable will FSU and Louisville be for the Big 12 now? Big time, I am betting.
Better yet, how desirable will they be to UT - for augmenting their little commune? Be aware and follow the money, friends. You would be surprised how things start coming together for you.
And, like McPhaul said, keep your eyes on the ACC and the Big East. I don't know anything, but I have a feeling.
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