Man, we really screwed the pooch on conference expansion. Unfortunately we were force to be reactionary. In an ideal world, we would have added WVU and Louisville. We were caught in a moment of panic and added TCU instead.
IIRC, we added TCU when aTm split, and then knowing that Mizzou was on the way out, lined up WVU. There was some politicking on by Louisville to get in instead of WVU. For some reason, the conference insisted on staying at 10 teams, should have grabbed both and figured out a schedule to accommodate 11 teams. Problem there was likely that we'd already switched to the 9 game conference schedule, giving the networks 45 conference games - you can't go back to 8 game schedule for 11 teams, effectively loosing 2 games from inventory for TV.
Anyway, I seem to also remember a couple of related rumors:
Memphis has a donor (FedEx? Papa John's?) that is willing to kick in a bunch of money to get them into a better conference
Cincinnati was told to upgrade their facilities by at least one Power5 to get serious consideration.
What's the Dude got to say? MHver3? Tuxedo Yoda?
Expansion is all about the bottom line. Expansion will happen when the Big 12 is locked out of the playoff because of no title game
and has exhausted every effort to get a title game with less than 12 teams (isn't this getting talked about again, that the conferences are petitioning the NCAA for a change to that rule?)