I think the Big12 needs to explore a number of different avenues rather than jump on the easy option of adding schools like BYU, Cincy, UCONN, Memphis, etc. Other than BYU and Cincy- schools like Memphis, UCF, Temple and Houston see their published attendance fluctuate significanly between winning seasons (40k) and bad seasons (20k).
If I were the Big12 leadership, I would explore the following:
1) Not sure the SEC has a GOR. The Big12 should approach Mizzou. Sure the SEC TV contract for FB brings more money, but has Mizzou lost its relevance by moving to the SEC. It definitely has in basketball.
2) Approach a handful of Pac12 schools and see if they would be interested in joining the Big12. It looks like their GOR runs through 2023 or 2024, but are GOR's even enforceable? The obvious targets are schools in Arizona and California, but maybe a combined Big12/Pac12 (less WVU and maybe Utah, WSU and Oregon State)
3) If there is no synergy with the Pac12. The Big12 needs to determine if long term it makes more sense to expand east- adding Cincy, UConn, UCF and Memphis. Or to expamd west- drop WVU and add BYU, SDSU, CSU or Boise or New Mexico or UNLV. IMO adding BYU makes no sense, if the Big12 isn't going all in on expanding west. IMO in 2016 expanding east is the obvious choice. However, long-term is expanding west a better financial decision?