My recollection is that before Colorado and Utah joined the PAC, there were proposals for 6 Big XII teams to go to the PAC.
Colorado, OU, OSU, UT, TAMU, and TT.
A&M got tired of Texas seeming to drive the bus, and got very upset about a rumor that the LHN would showcase Texas High School games.
This was seen as UT inducing featured HS players to come play for UT.
A&M and others thought this was unethical, and perhaps violated some NCAA recruiting rules.
UT and the LHN backed off on this, but A&M was fed up.
SO I think that led to A&M jumping to the SEC.
Somewhere in there, Nebraska left to become Big Ten #12, even though Missouri's governor had actively lobbied for the big Ten to approach Mizzou.
The PAC then invited Colorado and Utah to become the PAC-12.
The Big XII was in total chaos.
At this point there was yet another discussion about a PAC-16 involving UT, TT, OU, OSU making the move.
I think Boren (on behalf of OU and OSU) approached the PAC, and then UT and TT were brought into the discussion.
It would've required 9 of 12 votes of the PAC-12 members (Colorado and Utah would get to vote).
Some people at UT and OU claim they were "very close" or "30 minutes away" from a deal.
I think the 4 were negotiating with commissioner Larry Scott, and he then would have to sell the deal to the PAC-12 membership.
It didn't happen.
The post-mortem focused on 2 things.
they couldn't reach agreement on how the LHN would integrate with the PAC-12 network, and all the issues with division of TV $$$$,
and apparently at least 4 schools thought this merger would result in UT trying to dominate the management of the conference
(and apparently were hemming and hawing about buying into this PAC-16).
Larry Scott finally released a statement admitting to the proposal and said the PAC membership was not behind it.
So at this point, the remaining Big XII teams were REALLY feeling abandoned; namely - KU, KSU, ISU, Mizzou, and Baylor.
there was talk of them merging with the BE FB schools....
Pitt and Syracuse left for the SEC, but the be still had: UConn, Rutgers, WVU, Cincy, Louisville, USF, and a commitment to bring TCU on board.
FoxTV came to the rescue and threw a nice TV contract at the Big XII, if they would sign a GOR.
Meanwhile the SEC was looking for #14 and was reportedly focusing on WVU (who had recently won 2 BCS bowl games) and Missouri.
Mizzou (rejected by the Big Ten, and feeling somewhat abandoned by the Big XII South schools) leaped for the greener pastures of the SEC (team #14).
So the Big XII was down to 8, with A&M, Mizzou, Colorado, and Nebraska gone.
The Big East's BCS auto-bid was looking weak, due to their defections, and the Big XII invited TCU.
TCU had to eat an exit fee or maybe $5 million (they had not yet officially joined the Big East), to bail out and join the Big XII as team #9.
WVU then used their Oliver Luck connections (WVU AD, was formerly a Houston Oiler, and a Texas lawyer, who helped facilitate the construction of the Houston Texans stadium) to wrangle a Big XII invitation as #10. (they ended up coughing up something like $11 million to leave the BE).
Just before WVU's invitation was announced, some Kentucky politicians (maybe it was Mitch McConnell ?) tried to get Louisville invited instead,
The Big XII went with WVU. In retrospect, they should've invited WVU, Louisville and Cincinnati for 12.
Fox's TV agreement would've paid the extra 2 teams the same per school money, so the 10 schools would not have had to split their share.
But some forces wanted to stay at 10, and play a 9-game round robin, possibly because so many top-rated Big XII teams had been ambushed in the Big XII CCG...