The PAC overall is in a horrible spot. I don't think CO is the only domino to fall, it's just the second part of a feedback loop that's only going to pick up speed as long as the B12 is willing to add PAC schools. The real question is how big does the B12 want to go? 16? 18? ESPN's on the hook for any P5 schools the B12 wants to add, but what is Fox willing to take on?
The media deals that weren't good enough before are only going to get worse. Dropping below 10 schools means no conference football title game (and no revenue that comes along with it). Scheduling suddenly becomes a problem as the conference slate drops from 9 games to 8 to 7, and the media deal follows suit. SDSU's out there, and SMU, but who do they backfill with beyond that? The MWC is already passed the deadline and their buyouts is something like $35M if they want to join for 2024.
Oh, yeah, and they still don't have media deal.
OR and WA are the big prize. IMO, they wouldn't be a problem like Texas, Nebraska and A&M were because they'd have no leverage. Threats to leave if they don't get ______ would just be laughed at. Until the B10 gives them an invite, there's nowhere else for them to go. If/when that day comes, there aren't enough concession the B12 could offer to get them to stay.