The reality is Arizona & Colorado are worth more than bottom end Media Value New Big12 teams. I look at realignment for the Big12 like a professional sport team always trying to improve upon the bottom of its roster.
If the New Big12 is going to make $40M/school/year. I would expect UA & Colorado are middle of the road Pac10 Media Value schools (behind Washington, Oregon, Utah & Arizona State). If UA & CU are each worth around $30M, then that would dilute New Big12 payouts to $38.6M.
I think that dilution is workable for schools, especially if it opens the door to adding Oregon, Washington, Utah or Arizona State.
I agree. Certainly worth spending a little on AZ and CU to get much better odds of getting more valuable schools plus the macro benefits of no PAC to bid on or compete with, and more possible Tier 1 games.
I also think most PAC schools are worth more in a Big 16 or Big 18 conference than even Pac12, as they can maintain the late game spot while also getting better time slots and into more college athletic friendly markets. These "name" schools of the PAC have been held back being PAC imo, and can be "sold" to Texas and flyover states when playing Big 12 schools, that otherwise would not watch the PAC much, particularly in late games. For the same reason the general thought was the PAC was stronger, much of the nation views the PAC favorably, but out-of-sight, out-of-mind has limited that conference, and the locals not as passionate as in midwest and south. Larry Scott knew even back in 2010, they needed to be less PAC
Maybe the Big 12 schools get a small bump with more of the West caring about them, but likely not as much.
Whatever the providers offer the PAC10 and Big 12, competing against each other, it should be tangibly more for a Big 18 with a larger footprint and more numerous top matchup possibilities, and no other conference to bid on.