A report out of Salt Lake City says BYU officals had discussions with Big 12 about joining conference.
http://www.dallasnews.com/sports/colleg ... erence.ece
The number of scenarios about Big 12 backfilling, super conferences, OK to PAC12, BE and ACC being raided, ..... are innumerable and says loudly that no one actually knows what will happen, even those on the inside.
My two cents is that UT will take the initiative to save the Big 12. Going independent or to the PAC 12+4 will not be as attractive as showing leadership. They should want a BCS conference in the SW/Great Plains and will conspire with OK to ensure conference survival for selfish reasons.
Revenue, traditional, stability and leadership are theirs, if they keep the conference, gain the advantage$ of their Longhorn Network (perhaps sharing the spoils with teams that particpate too). Plus, the path to championships are more straight forward in the Big 12. Going independence will create real problems for the non-revenue/Olympic sports and the travel costs (and not to mention the extra demands on their student-athletes in all sports to go to west coast routinely) is not insignificant and will moderate the expected benefits of a Pacific Coast conference.
Oklahoma will need to be convinced, as well, but the two can recommit to Big 12 members for a more stable future. Next, they get BYU as a A&M replacement. BYU will get to keep much of their network in exchange. Third, add two more teams from this list: Air Force (to partner with BYU), Houston, SMU and/or a long shot, Tulsa (for the OK schools). Notre Dame, Navy and Army can serve as regular FB OCC partners too, but not members.
In the end, Longhorns need to end the chaos before it starts. If OK leaves, Texas go indy or follows the Sooners. I don't believe they want to have that happen with a Big 12 gone or merged with CUSA and the BE and ACC now under greater threats. If the dominos start, no one will control events.