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Right now the B12 is much stronger than the PAC and financially the PAC is a dumpster. You've got 4 teams you pick up and I would go after the Arizona schools, Utah and USC (USC being a private school would keep California politics out of it hopefully) and sink the PAC. To do it you will need to restructure your revenue share and understand that the current model is great for a few but kills your lower-tier schools.what hurts perception wise is that the Big 12 doesn't have 12 schools and two divisions.. If they were separated, it would help schools like Kansas rebuild quicker since they wouldn't play ou, UT, osu, TCU every year.
We had NE, MIzzu and aggy before.. what made those schools in the Big 12 so much better than it is now? NOTHING.. round robin schedule is great but you can hide warts with two separate divisions.
Although I'll admit with the round robin plus the CCG game.. It's going to be hard to ever not let a 1 loss Big12 team in the CFP. No other conference outside an occasional SEC CCG can put on a better game.
If you were able to pull the above off it would give you two separate divisions, it would decimate the PAC and give the B12 negotiating power to kill it with the next network deal.
If the B12 doesn't make a move it's going to be difficult to keep up with the SEC and B1G on the revenue side. The SEC CBS deal ends in 2023 and they are going to make history again when they negotiate the next deal and they have the ratings to support it. The problem with the B12 is they don't have enough big games to generate the national interest week in and week out. As much as you want to pimp Texas vs TT it still isn't anything greater than Alabama vs Miss State in the scheme of things.
Texas needs to think long term because the LHN network deal isn't going to renew at the current terms and they aren't going to see that again.