Big 12 rescued from oblivion? Texas staying? Pac-10 plane headed back to California

Reports now say Texas is leaning toward keeping the Big 12 Minus Two alive.

Texas’ Rivals site, Orangebloods.com, reports that the conference’s richest school is working on a new TV deal with the other nine universities that would salvage the conference and make Texas even richer (Texas’ cut in the new deal would be between $20 million and $25 million as well as $3-$5 million if the university starts its own network).

As for the rest of the conference, schools like Texas A&M and Oklahoma would pull around $20 million, while the rest would pocket between $14 million and $17 million. It’s less than Texas but about double what they’re getting now.