So here is the next thing that could happen in conference realignment.
The Pac-12 and Mountain West should "merge" into one conference, and that conference should be the Pac-12. Here's how they should do it.
MOUNTAIN WEST SHOULD DISSOLVE
The Mountain West should dissolve the conference. That way there is no $34M exit fee for each school and they can just join the Pac-12 without a financial setback.
MOUNTAIN WEST SCHOOLS JOIN PAC-12
The reasoning for this has several points. For one, the Pac-12 is a better brand than the Mountain West is, even if that brand has taken a major hit this week. That should produce a better broadcast deal than the one the Mountain West is currently on. That is plenty of enticement for both the Mountain West schools and the four remaining Pac-12 schools (Cal, Oregon State, Stanford, Washington State) would otherwise just be joining the current Mountain West deal.
Another point is that they can merge their NCAA Tournament credits together. The Pac-12 has credits and the Mountain West, which gained credits on San Diego State's run to the national championship game last year.
MERGE MEDIA RESOURCES
You have the Mountain West's deal with CBS and FOX and we know that the Pac-12 was fishing for a new broadcast deal. You would most likely see the Mountain West deal stay but possibly be made a bit more valuable with the four Pac-12 schools as well as the Pac-12 name. There is also the Pac-12 Network which could be used as more of a streaming service ... possibly propped by Apple+. The Mountain West already streams games so there is already a familiarity there.
WHAT'S IN IT FOR EVERYBODY
For the Mountain West schools, it would frankly put them in a shinier box to sell and possibly give them better access to the College Football Playoff and the NCAA tournament. On both sides, it should end any poaching rumors (mainly from each other) and could allow the league to go looking at expanding elsewhere ... possibly into Texas with SMU or adding Gonzaga for basketball (more on that). For the leftover Pac-12 schools, it is just a better situation than what they'd be forced to consider otherwise. It doesn't come anywhere close to what they've had but it keeps them alive.
WHAT WOULD IT LOOK LIKE
So you would have California, Stanford, Oregon State and Washington State. All four fit into the Mountain West footprint already so there's no outrageous geographical issues that weren't already there (ahem, Hawaii). So we have:
Washington State
Oregon State
Boise State
Utah State
Nevada
UNLV
California
Stanford
San Jose State
Fresno State
San Diego State
Wyoming
Air Force
Colorado State
New Mexico
Hawaii (football only)
That would give the New Pac-12 15 non-football schools and 16 football. If the league wanted to lure Gonzaga (a non-football school), that would be 16 both ways.
Oregon State and Washington State add the Pacific Northwest that would be attractive for the Mountain West to enter, market-wise, plus are good geographical partners. Cal and Stanford would solidify the Bay Area market that San Jose State already resides it, making those three a great trio of rivals. Nevada and Fresno State aren't too far away which could make road trips for all those programs very doable.
WHERE COULD THEY GO FROM HERE
Expansion wise, the New Pac-12 (or Pac-16 since they are the one conference that actually attempts to correct their name) could be an attractive option for other Group of 5 schools. I alluded to Gonzaga earlier as a non-football option. That would be a major get for the Pac-12 to give the conference a top-notch basketball power. With San Diego State having the great season they had last year, UNLV having a great history, and Stanford having its moments throughout the year, the Pac-12 could be a rising conference hoops-wise if they can land Gonzaga. Of course, the Big 12 is doing the same, but the Zags may feel more comfortable in a Pac-12 they could still dominate.
The league could also look to expand into Texas. Possibly SMU, which was on the radar of the Pac-12 before all this mess, could be an option. Possibly UTSA, a rising program, would be of interest. There is Rice, which would be the academic fit for Stanford and Cal.
Maybe they get bold and go further out. Memphis?
At the rate conference realignment is going, this could go pretty quick.
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