What logic dictates this? Admitting more schools costs the existing schools money.
Let's say they're at $500M per year currently for the 14 teams to split. $36M each.
They add 2 teams and they renegotiate to $550M. $34M each.
They aren't expanding to cost their members money. If the schools available were worth having the Big 12 would've been gone the last time this happened.
First it is about double what you listed...BIG will pay out this coming season around $55Mil per team. So more like $770 MIL.
Second, any new team that joins the BIG outside of say USC or Oregon will join and not get a Full Share of revenue first 5 years or so...Like Nebraska. So ISU will make maybe $30 Mil a year first 5 years in BIG. Let's assume also that ISU generates ZERO revenue for the BIG which is utterly ridiculous btw...but let's assume this...
This is only $2mil less per existing 14 BIG teams per year to add ISU. ISU can also provide the BIG with the $$ they will make off Tx and OU exit fees etc... Which won't be small btw..
Another thing going in ISU favor is ISU is the 2nd biggest TV draw for basketball in the BIg 12 outside of KU...
Lastly, the trend in college sports believe it or not is both fball and bball are losing viewership. Last year was just brutal for both sports in COVID year which i really dont get as people were more at home etc.. but maybe alot more people stopped paying for tv$$ bc lost jobs etc.. idk.
ISU has a rabid, loyal, fan and alumni following. Like other's have said the future isn't so much about Tv markets but rather viewership, subscriptions etc... and ISU can more than hold their own in both sports.
I know this is all about football mostly but ISU is positioned well to make the argument that they have a good fan following in both sports helping to generate more revenue in Men's bball.