An SEC guy telling me I have a crappy commissioner? WTH? Anyhow, I dont think the powers that be at each University, can agree when it comes to tv contract negotiations, or revenue sharing. That being said, those willing to leave can be replaced and the status as an elite conference can be maintained.
Of course, it would require the Big12 to get the "right" schools. U of H brings nothing. Utah is Utah. TCU would be good though.
The other issue that has been discussed today is, what's the commitment to Okie Lite and Ou? What major market are they in that other teams in the Big 12 would not be in unless they played them. The answer; there is none. The Pac10 is being kind by extending them an invitation, just to keep the Red River Shoot Out in tact. Other than that, when you look closely into it, Oklahoma schools dont bring all that much.
Hell, most of their players come from Texas anyways.