Mizzo makes sense in the ‘near term’ if the B1G needs to get to 16 schools for the next TV contract in 2015 and if the B1G had abandoned tit’s southeast expansion plan, i.e. UVA, UNC & G Tech out of the ACC, due to the GOR and now believes that the XII is conference most likely to collapse and wants a land bridge to Texas (or at least Oklahoma).
I have seen speculation about Mizzou to the B1G in the kind of scenario that you mentioned and speculated about it myself: the B1G is going to 20 and Mizzou comes along with Kansas, Oklahoma and Texas to join Nebraska for a 5 team pod.
However, I do not think the B1G "needs" Mizzou for the next TV contract.
I anticipate the B1G could go forward with the 14 schools and have allowances for re-negotiation of the TV contract should additional members join the B1G.
I would have to rely on those of you in the business and legal realm regarding whether this is a feasible option.
Regarding Mizzou ...
Yes Mizzou meets much of the B1G criteria for a prospective member but ...
The B1G could have invited Mizzou before the Big 8 and SWC merged but did not.
The B1G could have invited Mizzou back in 2009-2010 when conference realignment blew up after the B1G announced it was thinking of expanding but did not.
The B1G could have invited Mizzou back in 2011 when it became apparent Mizzou was going to leave for the SEC but did not.
My personal opinion: I would be fine with Mizzou in the B1G and have been surprised that it did not happen.
However, my personal opinion aside, it is difficult for me to see why the B1G would invite Mizzou now.
The B1G does not "need" Mizzou and Mizzou does not "need" the B1G.
The B1G would certainly take Texas without a "land bridge".