dayooper
It's what I do. I drink and I know things.
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The Big12 GOR agreement is below:
There is nothing in the agreement which states the GOR is invalidated if a certain percentage of the teams leave. In the fact the only provision for modification I saw is if all the member institutions agree to the change.
The whole agreement is only 4 pages and per the below linked article is intentionally vague. This vagueness is allegedly to insure any attempted withdrawal ends in a messy drawn out litigation and there is no "easy" way to to just buy your way out. It is basically a poison pill to make Big12 teams not worth the headache for any conference looking to add them
http://sportspolitico.com/2015/02/16/will-grant-of-rights-protect-big12-from-future-raids/
UT, OU, OSU and KU might be able to find new conference homes and would not be opposed to resending the GOR. But what about WVU, KSU, Baylor, TCU, and TT? They aren't going to agree to going into conference purgatory...their best meal ticket is the Big12.
The SEC and Big10 may have some interest in some B12 teams but they do not need them now. The SEC and Big10 are making money hand over fist and why take on the aggravation of a messy multi-conference lawsuit? The ACC seems more likely to try and draw Big12 teams now but, based on the ACC's incompetent leadership and relatively low payout, the really attractive B12 schools would be better off holding out for the SEC or Big10 in 2025.
If the Big12 does not expand they are a dead conference walking but it may be a really slow death ending sometime after 2021.
I think you are confusing the GoR with the media contract. The GoR is between the conference and the schools, the media contract is between the conference and their media partners.
The GoR is a where the conference schools bundle their rights to sell to the media partners. That's all you linked. The media contract is the actual trade of services. Two separate contracts between separate entities. The Big12 sells the rights secured in the GoR to the partners for money.
The rumor (just a rumor) was that the media contract, not the GoR, was void if the number of schools dropped to eight. Since the media partners have the right of refusal on any school added, media partners could then decide who to allow the Big12 to invite, if anybody at all. If Fox and ESPN are happy with the product, they will do nothing. If not?