Just a fan, no inside connections. Purely my observations as a longtime fan of the Sooners and of college football, the greatest sport on earth. I'm also a fan of conference realignment, and how institutions and groups of people associate with each other.
FWIW, Landthieves is now on the 86th page of its 13th thread on conference realignment. It's a never-ending discussion. It's a subject that won't go away until the B12 GOR either ends or is settled in advance. The Big 12 is and has always been a business arrangement. It was driven by the need for a central states conference that could attract a nationally competitive TV deal. The conference, as we know it, will go away when it can no longer deliver that.
My preference is the old Big 8, followed by the original Big 12. Neither of those are coming back. Both of those trains have left the station.
* The administration and many alums would prefer the B1G. There is also a mutual relationship with Fox. The money would be really good, and the academic prestige would benefit the university. We wouldn't get to play Ohio State, Michigan, and Penn State every year, but we'd be able to restore our rivalry with Nebraska. Not everyone agrees with me, but I would be fine with a move to the B1G.
* OU can move to the B1G with KU and/or UT. The B1G won't take OU alone. KU has the academic prestige that the B1G looks for, plus a top 5 basketball program that will increase the value of BTN. Their football has been horrible of late, but they can only improve. Texas is Texas.
* OU has had the opportunity to move to the SEC, and didn't take advantage of it.
The current administration is leery of the SEC. I personally believe it is the best fit: football-driven flagship institutions of small to medium-sized Southern states, with good but not elite academic reputations. Oklahoma is neither fully Midwestern nor fully Southern, but is Southern enough to fit. As JR mentioned, the season ticket holders are not happy with their packages, and an SEC schedule would provide enough rivalries and attractive opponents to increase ticket value and donations. Athletically, it is the best fit.
* OU can move to the SEC alone, but would prefer to take OSU. There is no law that ties the two schools together, and the politicians would ultimately sign off on any deal that preserves OU's status as a blueblood. OU's current president is a former governor and US senator, with family ties to OSU. In all of his negotiations with other conferences, he has attempted to package OSU with OU. That is good state politics, but has hurt OU when talking to other conferences. For example, he was slapped down hard by the Pac 12 when they turned down the addition of OU and OSU without Texas.
* OU views Texas as a rival and as a business partner. OU does not see itself as permanently married to Texas, and is willing to split from them if necessary. However, the Red River Rivalry is a must for both schools, whether it is a conference game or not. It was a non-conference game until 1996, and could be again in the future. With that said, OU would prefer to have at least one of Texas or OSU as a conference mate, to avoid the necessity of using two non-conference dates every year for traditional rivals.
* I don't see Texas moving to the SEC. They don't want to be seen as following A&M, and they look down on the schools in the SEC (except Vanderbilt and perhaps Florida). As long as they have the Longhorn Network, they can afford to stay where they are. And, I think they would like to play the role of benevolent dictator in a new version of the Big 12/SWC. The B1G is an option for them, but they can't be a power broker there. Institutionally, they would fit in the Pac 12, but they would rather not fly all of their teams to the West Coast for games.
* This is great off-season banter, and perhaps someone has planted some new information in Finebaum's ear. I don't expect a decision on OU's future conference home to be made by this administration. By that time, the environment could change yet again.
Just my observations. That and $5.00 will buy you a cup of coffee at Starbucks.