Per my several posts from a high inside source at the P12 office during those times, the P12 did NOT pass on TX. They came to an impasse because TX wanted to retain their Longhorn network. And WE know in hindsight that was the poison in the B12. Also, they NEVER had any intention on the 'remnants'. They ONLY pulled CO hoping that would cripple the B12 and slide the bar for TX.Pac 12 is the gift the keeps on giving.
Gift 1. They pass on OuT and take Colorado.
Gift 2. They pass on the remnants of the Big 12.
Gift 3. Colorado.
Gift 4. Oregon?
Now, the other gifts I'm totally in sync with. And as pointed out earlier CO was intended to cripple the B12 and how sweet would it be if they crippled the P12 this time around by sending OR our way.