Yesterday Nebraska informally announced that they were taking the Big 10's offer and ditching the Big 12. Let the dominoes fall. Since Nebraska's decision, Colorado has also announced to ditch the Big 12 for the Pac-10, the conference that is going after five other Big 12 schools (Texas, Texas Tech, Texas A&M, Oklahoma and Oklahoma St.). Second domino down. So now the Big 12's future, and most likely final domino, belongs to Texas. They can either knock it down, or keep it up.
If They Knock It Down - If they knock it down, which all sources are pointing that they will do, then the Big 12 is destroyed. Texas will bring the aforementioned five schools with them to form the Pac-16. Which means they will leave KU, KSU, ISU, Baylor and Missouri (who have been getting the cold shoulder from the Big 10 leaving question to whether they will even be invited to join the conference). This leaves two options for the five schools. Rebuild or Re-locate (conference wise that is). With everyone expanding, I don't think it will be too difficult to find another conference. They could try to fit in the SEC which makes more sense geographically wise, or go to the Big East and have a super-super conference. The other option, rebuilding, makes for a more interesting story. The Des Moines Register gives the suggestion of taking in Cincinnati, Louisville, TCU, UTEP, SMU, Houston, Rice and Memphis (though one of those schools would have to be out if Missouri doesn't leave). That would leave the following divisions (if Missouri leaves) as so :
North - Kansas, Kansas State, Iowa State, Memphis, Cincinnati and Louisville
South - Baylor, UTEP, TCU, SMU, Houston and Rice.
Now it's not the strongest conference but it could still easily work out and, if it saves the Big 12, I'm all for it. I even made a logo for the new Big 12.
If They Keep It Up - If Texas keeps the final domino of destruction up, then all of this will go away, the Big 12 will find two schools (Most likely TCU and Memphis) to replace Nebraska and Colorado, and the Big 12 is saved.
Who knows, maybe a shake up is good, but no matter what happens, the Big 12 will survive for a least another year or two, then the college sports world is in for a huge shake up.