As I give this more reflection, my (WAG) opinion about what will happen has evolved. A few key points
1) The sentiment among the remaining Big 12 members will be to move on. Even taking a bit of a financial hit (not too big).
- four years is a long time, and human nature is to move on as soon as possible
- program visibility and likely financially it's better to have them stay through the end of GOR, so a balance must be struck
2) the CFP will expand to 12 schools, probably starting with the 2023-24 school year
3) Big 12 distributed $37.7m average per school in 2019-20 and $34.5m in 2020-21 (COVID pulled it down a bit)
- Media contracts with ESPN and CBS have membership clause that is triggered by departures
4) ESPN is paying for the Big 12 CCG each of the next four years (through the 2024 football season)
5) all the remaining schools are part of the Big 12 digital network on ESPN+, where each provides one FB game and combined up to 70 MBB games
- this is part of the $40m ($6.7m per year roughly) that ESPN is paying the league, along with CCG (
link)
6) Ket date, the GOR runs until June 30, 2025 (4 years left)
The CFP expanding in the 2023 season I think is the logical break point. This makes sense as to when the B12 parts ways with Texas and Oklahoma. The $75m thrown out as settlement seems logical, as 50% of that can be had by withholding from each, some $37.5m, from their 2022-23 season distributions as they exit, the rest collected over a period of five years.
The reasoning is simple, the remaining Big 12 schools will not want Texas or Oklahoma to take the B12 champion's playoff spot in 2023 or 2024. That should provide high profile for the conference's remaining schools which they currently need Texas and Oklahoma for, and it could help them retain much of the money ESPN is giving them for the last two years of the contract, and it might not trigger a reduction beyond the share Texas and Oklahoma are getting. (It will be partly offset by ending the LHN payments.)
July 1, 2023 is thus the date I think the schools join the SEC.
As for replacements in the Big 12, I am starting to lean toward none, the league remaining at 8. The CCG argues for 10, but
BYU is a big enough brand but a logistical problem, possible compatibility issue. They would definitely increase the digital reach.
Although it's football first, I think Basketball will play a key part in selection. That helps Memphis, Houston, Cincinnati and Colorado State (and BYU some), but hurts the Florida schools (lower resources thrown at it, marginal fan support - not basketball cultures). The geography of these schools are also good, not stretching the footprint that much.Colorado State is the weakest in football, although they throw the most resources at it. Cincinnati is likely the strongest at football with a strong stable coaching situation.
I have no clue who gets picked, they are all very close in value, except BYU who is both greater in value and also significantly more problematic. Each has pluses and minuses. Whomever is hot this fall probably gets the inside track. But they are so close whomever is best at schmooze and booze probably wins. ESPN will play a heavy role in the selection.
Bottom line 2023 is the year the lineup changes.