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It isn't a "kick out" situation. It's a question of the league wanting a network and voting for one, and UT being forced into a difficult decision. They can't keep LHN in any other league, and likely don't want to give the B12 leverage against them later.
They also can't be forced to give up their T3 rights. There's no voting on that. If Texas says they're not giving up T3 rights, then it doesn't matter what the rest of the league wants.