We can't turn down a bowl bid. But the conference can lobby the bowl committees to get an ideal outcome for all involved.The podcast indicated the athletic department is likely not thrilled about a Texas Bowl possibility. They mentioned they're unsure if they can say "no thanks" to the Texas Bowl but the athletic department doesn't want that date. Likely would be poorly attended and reflect negatively toward future bowl opportunities. If Orlando passes on Iowa State and ISU declines the invite for Texas Bowl, then Liberty is in play.
I would not be upset if TT got picked over ISU for Houston to set up easier travel for both schools.