ESPN is now reporting that the five prospective Pac-whatever members have been convinced to stay, that Texas will receive the largest share of revenues and have the ability to set up its own network as well.

Pac-10 commissioner Larry Scott confirmed Monday that Texas has turned down an invitation to leave the Big 12 and join his conference.

In an e-mail to The Associated Press, Scott confirms that Texas has rejected the Pac-10's offer. [...]

Based on a TV deal in the works that could pay upwards of $25 million per year, Texas leaned toward staying in a 10-team Big 12 for the foreseeable future, Orangebloods.com reported, citing sources familiar with negotiations.

Texas stands to earn between $20 million and $25 million annually in television revenue in the reworked deal, including money from its own network, according to Orangebloods.com.

The Longhorns network figures to generate between $3 million and $5 million, according to the Orangebloods.com report. Because the Big 12 has unequal revenue sharing, the deal will mean more money for Texas, Texas A&M and Oklahoma, who all would receive at least $20 million annually from the new deal.

"Everybody is feeling much more confident the Big 12 is going to survive," a person with direct knowledge of discussions told The Associated Press. "Everybody's going to be making more money."

I say good riddance.

Do we want anyone else?  Utah?  How would a Pac-11 work out?  No round-robin, no playoff, but maybe a little more pride?