Well that's pretty sobering...
"Of course, even the hint of an alliance is a bad sign for the Big 12. It signals that the Big Ten, ACC and Pac-12 do not believe the Big 12's eight remaining programs -- in any form -- bring substantial value to their conferences. Taken a step further, it suggests a reality that could see the Big 12 or American fade away with one likely absorbing the other.
Worse for the Big 12, it portends a nuclear winter for those schools' athletic budgets. Programs with hundreds of millions tied up in facilities will downsize. Minor sports will be dropped. The impact will affect not only athletics but the universities themselves. Being an autonomous (Power Five) institution is a branding that carries with it the cache that allows schools to hire staff, faculty and be awarded research grants. Even enrollment would likely be impacted."