UPDATE VI: John Henderson of the Denver Post also speculates on the viability of what it would take for BYU to agree to join the Big 12.
"BYU's interest is contingent on keeping its BYUtv network and six-game agreement with Notre Dame," he wrote.
BYU is on the fence, and SMU is the team left out in the cold despite actually wanting to be a part of the Big 12.
"A Big 12 source said the conference has no interest in another Texas school when it still has Texas, Baylor and Texas Tech," Henderson reported.