So if the Big 12 folds it is sounding more and more like Texas will be looking for a conference than going out as an Independent.
And the conference that makes the most sense for Texas appears to be the ACC for one simple reason. Texas would not have to give up the Longhorn Network.
If the Longhorns moved to the Pac 12 then Fox Sports could have a legitimate beef with the tv deal since they share rights with ESPN for the conference. The B1G would likely force the LHN to fold into the B1G Network already running.
I am still in favor of the Big 12 adding a BYU or Boise State to replace Texas A&M and hold the league together. But if Texas was so dead set on saving the Big 12 they would simply agree to equal revenue sharing (along with Oklahoma). It isn't like the UT will suddenly lose any revenue advantage with an equal piece of the pie so spare me any sympathy if the Big 12 does fold and Texas displays anger or sadness from the move.
But back to Texas in the ACC.
This move sounds really good on paper. The ACC needs a school with "national" appeal in football to help their image in athletics. That used to be FSU and Miami's jobs but those teams have fallen on hard times for nearly all of the life of a 12 team ACC.
Texas to the ACC makes sense on two conditions:
1. Equal Revenue Sharing
The first order of business is discussions with Texas must be revenue sharing. The Longhorns can keep their network (which nobody can watch anyways) but all other revenue MUST be shared equally. I don't care that Texas would generate eight times the football revenue that Wake Forest does for the conference you cannot run a league that way (as Texas is finding out right now).
2. Texas' buyout to get out of the league is the same as everyone else
Many ACC fans think John Swofford is too reactive when it comes to conference issues. But selling out the rest of the conference just to gain the favor of Texas for a few years would outweigh all of his other issues combined.
If I was negotiating on the ACC's behalf I would test Texas' commitment to the ACC by making their buyout higher than other members for a short amount of time after joining the league. The Longhorns would likely balk, but at least you make the impression.
Below are some other pros and cons to Texas joining the ACC, but I feel the two issues raised above must be resolved first before making a deal. If they cannot be resolved then I think the ACC would be making a mistake by adding Texas.
Marquee football program with national appeal
Ability to tap better into Texas recruiting market
Give conference a much better chance at two BCS spots
Academics are on par with rest of conference
ACC Basketball, Baseball and other sports would benefit from Texas on the schedule
Make it harder for everybody not named Duke to win the conference
Geographically and culturally awkward fit
No one can remember the divisional alignment now, how is it going to work with 13 teams?
(I didn't take into account other potential negatives like travel costs because it doesn't matter for football and it is only trip a year for current ACC teams who already travel to places outside the conference anyways).
Georgia Tech blog From The Rumble Seats Lists Their Pros and Cons for Texas joining the ACC
Rumor Mill: The Texas Longhorns Interested In The Atlantic Coast Conference. Is The ACC Being Proactive?: