The latest news from Chip Brown has six teams from the Big XII accepting invitations to join the Pac-16, with the big news being that apparently Colorado has edged out Baylor in the pecking order:
Meanwhile, reports on the local news in Dallas, Texas are quoting Big XII president Dan Beebe as telling university presidents this afternoon something to the effect of, "We tried all that we could to save the Big XII, but we just couldn't do it." At this point, plain and simple, the Big XII is dead. Two more years will be played, but beginning in 2012 we will have the Pac-16, the Big Sixteen, and probably a 16-team SEC as well.
With Baylor apparently being edged out by Colorado, they will drop back down to a lesser conference, likely to the Mountain West (who I'm sure will snap them up). Missouri will all but certainly follow the Cornhuskers to the Big Ten, but for Kansas, Kansas State, and Iowa State the reality is that their outlook likely contains much more dejection.
Either way, nice knowin' you, Big XII. Tell the ol' Southwest Conference we said hello.