I don't see any current so-called BcS team going to the Big 12. The recent realignment was caused by those that could (Nebraska, Colorado, TAMU, and Mizzou) moving out, because of the unequal (made more unequal by this deal) TV situation that Texas enjoys and the kickback that Oklahoma is paid out of it to keep them there. They took two mid-majors to get back to 10.
Maybe Louisville and its several dozen football fans, but other than that, why would a team join this league and have a permanent disadvantage to the Big 2.
In any event, the details of the deal are more complex than most but here goes:
- Disney (the ESPNs, Longhorn Netwrok (AKA the network no one gets), and ABC) gets 19 games per year until 2016 when it goes to 23. Of those only 6 can be "non-national", meaning on Longhorn Network or ABC regionally without the "reverse mirror" deal. Since ESPN is already obligated to "reverse mirror" the Big 10, this means probably a double reverse mirror in those weeks.
- Fox (Fox, FX, FSNs and FCS) gets 40 games, of which 6 must be on Fox, (meaning 25 games per year will be on trully national TV). It can force the league to schedule three games on a Thursday night, plus "Labor Day Sunday" and "Black Friday" (the day after Thanksgiving). (This means Thursday night is going to have, at least, an NFL game on NFLN, a Big 12 game on some Fox outlet, and a game or two from some other conference on ESPN).
- Every team gets to keep one game, which it can sell as it wishes. Texas will use this game for its Longhorn Network. Others will sell it to an RSN serving their state, sell it PPV (within the state only) or syndicated it to local OTA stations in their state only. If a school cannot sell a game on this basis, it goes back to Fox and doesn't count towards the totals. ESPN can put additional games on LN but these would count towards its 6 "non-national" games.
- Theoretically, there is a "grant of rights" meaning that even if a team leaves the league, the TV rights to its games would belong to the league. The legality of this is unknown.
Big winner? The SEC, which will demand that CBS and ESPN tear up the current deal and pay them at least 4 times this.