They say that money is the root of all evil. It’s also the reason why Texas might wind up staying in the Big 12 after all.

In a rather surprising turn of events, it appears as though Big 12 commissioner Dan Beebe has saved the conference by constructing a TV deal that could pay Texas upwards of $25 million per year.

ESPN.com has the details:

Texas stands to earn between $20 million and $25 million annually in television revenue in the reworked deal, including money from its own network, according to Orangebloods.com.

The Longhorns network figures to generate between $3 million and $5 million, according to the report. Because the Big 12 has unequal revenue sharing, the deal will mean more money for Texas, Texas A&M and Oklahoma, who all would receive at least $20 million annually from the new deal.

The other seven schools in the Big 12 would make between $14 million and $17 million, doubling what they currently receive in TV revenue.

Assuming this deal gets done, this would be a big win for all parties involved. Beebe keeps the Big 12 from completely imploding, the remaining 10 schools in the conference increase their TV revenue and rivals like Texas and Texas A&M won’t split. (Before this report surfaced, the Longhorns seemed destined for the Pac-10, while A&M was likely to join the SEC.)

Considering the events that have transpired up to this point, it is surprising that Texas is on the verge of staying in the Big 12. But what isn’t surprising is why they inevitably might stay.

Money was going to win out in the end here. As I wrote earlier today, expansion has always been about money. The schools that were considering expansion were doing so because they want to increase revenue and joining other conferences was a way for them to do that. But if Beebe found a way to generate more TV revenue (which it looks like he did), then there was no reason for Texas to join the Pac-10 or any other conference for that matter.

Personally, I think this is good news. College football is about tradition and rivalries and I thought it was absurd for programs like Texas and Texas A&M to split. I also hated the idea of a 16-team Pac-10 with no conference championship game, which was one of the proposed scenarios last week. Sure, the conference still lost Nebraska and Colorado, but most of the Big 12 will stay intact and as long as Beebe’s plan comes to fruition, I think everybody wins.

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ESPN.com is reporting that Texas, Texas Tech, Oklahoma and Oklahoma State are getting closer to joining the Pac-10. The report also states that Big 12 commissioner Dan Beebe is trying to put together a plan to save the conference, although sources say that he has “zero” chance of succeeding.

Beebe’s last-ditch plan included an emotional plea about preserving rivalries and maintaining the best welfare of the student-athlete, one source said.

Texas A&M is now most likely to join the SEC, a source within the Big 12 said. This move, in the wake of Colorado and Nebraska’s departure, would further diminish the chance of Beebe’s plan succeeding, one source said.

Texas’ decision is expected to come no later than Tuesday. One source familiar with Texas’ plans suggested a hearing on Wednesday at the Texas House of Representatives is “a nonfactor.”

A report on Orangebloods.com said that Texas is committed to discussions with the remaining 10 schools in the Big 12 about a plan put together by Beebe that would keep the league intact with its current programs.

The plan includes assurances that a TV deal could net each school between $14 million and $17 million, Orangebloods.com reported, and schools such as Texas could still have their own TV network.

College football expansion is all about money, so Beebe’s plan isn’t completely hopeless. That said, things don’t look good for him and the Big 12. These schools are going to go where the TV deals are bigger and where they can generate more revenue. As of now, the Pac-10 offers the better “deal” for teams like Texas, so it seems inevitable that that is where they’ll wind up.

We’ll see if Beebe’s last-ditch effort can save the conference but as of now, it appears that the Big 12 is on the verge of imploding.

Update: Now ESPN is reporting that Texas is leaning towards accepting a deal to stay in the Big 12.

Based on a TV deal in the works that could pay them upwards of
$25 million per year, Texas is leaning toward staying in a 10-team Big 12 for the foreseeable future, Orangebloods.com has reported, citing sources familiar with negotiations.

Texas was meeting Monday with the other remaining nine schools in the Big 12 about a TV deal included in a plan put together by Big 12 commissioner Dan Beebe that would keep the league intact with its current programs, according to multiple reports.

Texas stands to earn between $20 million and
$25 million annually in television revenue in the reworked deal, including money from its own network, according to Orangebloods.com.

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Expansion talk in the Pac-10 continues to heat up, as ESPN.com reports that Colorado has accepted an invitation to join the conference. Texas, Texas A&M, Oklahoma, Oklahoma State and Texas Tech should receive invites as well, while Nebraska is likely heading to the Big Ten.

Despite adding more teams, the Pac-10 could eliminate the need for a conference championship game by pushing for two automatic bids to the BCS.

The coach said it’s possible the Pac-16 would push for two automatic bids to the BCS, one for each division champion. That potential bonanza could open the possibility of the two division champs from one league playing for the national title, and it would eliminate the need for a conference championship game.

“The Pac-10 doesn’t believe in a championship game,” the coach said. “And coaches in the Big 12 don’t like it anyway.”

Does anyone else think that it’s ridiculous to have 16 teams play in one conference but no championship game? It’s amazing how these schools manage to eliminate playoff-like games at all costs, even though that’s the structure that most fans want.

Fans want to see the best teams play each other, whether it’s in a conference title game or a playoff format in the postseason. But clearly the BCS and the schools themselves don’t want to breed head-to-head competition. They’re fine with crowning a champion based on record and moving on. As long as they can increase revenue, then who cares about the fans, right? I would be shocked if the Big Ten didn’t try to follow in the footsteps of the Pac-10 and figure out a way to avoid a conference championship game themselves.

Another interesting takeaway from the article is that expansion might not happen for another two years. So even though Nebraska, Texas and Oklahoma would be joining other conferences in 2012, they’d still play in the Big 12 for the next two seasons. How awkward.

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The Pac-10 is now one step closer to expanding and possibly devouring the Big 12, as commissioner Larry Scott announced on the final day of the conference meetings on Sunday that university presidents and chancellors have given him the authority he needs to expand the Pac-10.

From ESPN.com:

“What direction that process takes still could go in different directions, everything from remaining as we are as a Pac-10 that’s got some very bright days ahead of it to a bigger conference footprint,” Scott said. “I have the authority to take it in different directions, depending on various scenarios and discussions we’re going to have.”

Scott wouldn’t give any timeframe for expansion talks — other than to reiterate that the deadline is the end of this year — or discuss specific schools. However, it sounds as if he will aggressively court some of the biggest names in college sports, including Texas. The Big 12 is in danger of collapsing and could provide the Pac-10 with six new teams or more.

The Big 12 reportedly gave Missouri and Nebraska an ultimatum of Friday to decide if they will remain in the Big 12. If those schools leave, the Pac-10 could be strategically situated to gobble up Big 12 teams looking for bigger opportunities, including Texas. The most widely discussed scenario has Texas, Texas A&M, Texas Tech, Oklahoma, Oklahoma State and Colorado joining the Pac-10. There was some indication Sunday that Baylor could replace Colorado under pressure from the Texas Legislature.

If the Big 12 largely stays intact but is under the umbrella of the Pac-10, then expansion wouldn’t be a bad thing. Because then you keep some of the key rivalries (Texas vs. Oklahoma, Texas vs. Texas A&M, Oklahoma vs. Oklahoma State) in place, but introduce a broader spectrum of games (i.e. Texas vs. USC). True Big 12 fans will lose out on seeing Nebraska and Missouri play Texas and Oklahoma every year, but at least the majority of the conference wouldn’t be dismantled. (Much like if Texas goes to the SEC or Pac-10, while Texas A&M and whomever else heads to the SEC, which has already been discussed.)

That said, if the Big 12 falls apart and most of these programs split up, then it’s hard to argue for expansion. I discussed this topic more last week, but the words “rivalries” and “tradition” will mean nothing if teams like Texas and Texas A&M head to different conferences. College football was built on rivalries and tradition and I think school presidents and athletic directors should strive to keep that in mind.

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