The ACC, Pac 12, SEC and the Big 10 each have their own conference network. Only the Big 12 lacks its own network. Why? Because of the Longhorn network.
The LHN is one of the biggest reasons Big 12 teams left the Big 12.
In no way, shape or form will any of the P5 conferences allow Texas in, while keeping the LHN. No way...and no way will ESPN offer Texas any incentive. Especially considering it's already losing big money with the LHN deal with Texas to begin with.
ESPN wants a Big 12 network. That's where it will make money, not the LHN. Guess what's standing in the way? That's right...The LHN contract with Texas. Years ago, the LHN looked like a good profit to be had. The only other network was the Big 10 network and it wasn't doing all that good.
Times have changed and conference networks have proven to be the money makers.
Big 12 expansion may help, but it doesn't look good. ESPN has lost millions so far on the LHN. Millions.
ESPN didn't want Texas and Oklahoma going to the PAC.
Unless Texas gives up its network, it is stuck in the Big 12, for better or worse.
It'll be a few years before we find out what will happen.
I still say, Texas will not give up what power it has and no way will any of the other P5 conferences allow it to come in and "poison" their leagues.
The ACC would be the closest exception, but with its new deal, I think that ship has sailed as well.