In the end, it was money and Texas that saved Big 12 from extinction

A week before his conference stood on the brink of annihilation and two weeks before the 11th-hour gambit that saved it, Big 12 commissioner Dan Beebe sent an e-mail to the presidents of the league’s 12 member schools.
“The attached confidential ‘white paper’ was distributed to the other governance groups today,” Beebe wrote on June 1. “As I was listing the reasons for the Big 12 for myself, I decided it would be appropriate to share my thoughts with the leadership groups of the conference.”