It all comes down to football and it all comes down to "what have you done for me lately?". For our program we've been one of the absolute worst in all of college football for the last decade. We've been the laughing stock of the sport for years now. No one remembers how good we were when we were going to bowl games every year and making the Fiesta Bowl because in college sports those are now ancient times. It would take at least 3 or 4 more good years from Jim Mora's bunch to start to change people's minds about the program. Right now, our reputation is in the dirt no matter how well our other sports do because most people outside of UConn fans only care about football.
Under normal circumstances I would say that you're right. Football $$$ has been the key motivation in the majority of TV contract negotiations to date. That said, I believe by both his words and actions that the Big 12 Commissioner values basketball more than the other conferences. This could be a key strategy to ensuring their long-term future even if it is at lesser dollar amount than The P2.
Most people who follow college sports generally accept that both the Pac 12 and ACC will eventually be raided of their key assets. The overwhelming majority of additions will be either done with football in mind (SEC) or in the B1G's Case to combat demographic shifts and expand influence nationwide. Where does that leave The Big 12?
They know that they'll never be the top football conference, as The SEC has that locked up for eternity. They also know that they'll never be the richest conference as they don't have the brands of The B1G that drive TV Ratings. However, with a few strategic adds they could remain both a competitive football conference, and lay claim to being the #1 basketball conference in America.
Why does this matter? It matters because If The P2 ever gets any ideas of breaking away and taking basketball with them they can't effectively do it without including the Big 12. People question what is Yormak thinking? This is what I believe he is thinking.
Potentially grab Colorado, Arizona, UConn and SDSU to go to 16 teams. Wait for The ACC to implode and grab Pitt, Syracuse, Duke, and possibly VPI or GT.
You now have a basketball conference that has marquee names in Kansas, Duke, UConn, Syracuse, Arizona, and Baylor to go along with programs like Pitt, Cincy, TTU, Houston, SDSU, KSU, and others who have had periods of playing competitive tournament basketball in their history.
Football wise you have a sneaky good conference with Pitt, VPI, UCF, Cincy, WVU, KSU, TCU, Baylor, OSU, TTU, & BYU. Very solid, but not so overbearing that a UConn, Arizona, Duke, or Kansas couldn't put together a good team and compete. This is a league whose champ should always be included in an expanded playoff, and if things go well potentially two or even three teams under the right set of circumstances.