From another source...Arizona and Colorado to be offered future membership to Big12, next week. We will see how accurate that is soon enough.
It's an interesting game of chicken that teams and conferences are in. The teams want to maximize the $$ they are getting, which may or may not force them to leave their conference (if they haven't signed away their TV rights). The B1G knows it's getting a huge contract. It's not against merging, but it wants it to be valuable to the existing teams (i.e., not reduce the $$ they get if they expand). The B1G has wanted Notre Dame for quite some time, and now appears to be waiting to see what they do (as ND is also in a strange situation, TV $$ wise). But if the B1G waits too long on ND and the Domers end up not opting for the B1G, then the B1G may have missed on some excellent additions that while they wouldn't add $100M by themselves, and thus would reduce the per team $$ to each B1G team, they would still make for a nice addition (and also make it so that USC and UCLA are not the only Pacific Time teams in the conference).
I'm having a hard time figuring out what the SEC is doing. The natural candidates to them for expansion are mostly in the ACC, and as such have their TV rights locked up for more than a decade. So do they try to break those agreements, or do they recruit other teams, or do they just sit pat.
The Big12 and the Pac are the conferences that seem to be most in play. Both seem to want to keep all their existing members, and also expand. It seems logical that a merger of the two leagues would be the best all-around strategy in terms of keeping all of those teams viable. Unfortunately, I don't think it's a great move from a $$ perspective, in terms of a TV contract. So both leagues are likely working hard to recruit teams from the other, so who knows how that will play out.
And the lesser conferences (and the schools in them) have to be scared by the recent developments. It's going to be tougher and tougher for them to compete with the B1G and the SEC teams because their TV payouts will be so much lower.