According to The Dallas Morning News, the Big 12 Conference will survive with its 10 remaining members. Larry Scott, commissioner of the Pac-10, informed the AP in an email that Texas rejected an offer to join his conference. On Monday, all 10 remaining schools met with Fox Sports to work on the framework of a deal that would provide enough money to keep the Big 12 alive.
ESPN reported that sources have informed them that Texas A&M will also remain a member of the Big 12. The Aggies were believed to be the final hold up in saving the conference.
Details of the TV deal are still being ironed out, but an agreement between the 10 schools has been met. The deal was apparently a last-ditch effort by Big 12 Conference commissioner Dan Beebe to keep the final 10 schools together. On Tuesday, Beebe will hold a teleconference to address the media at noon ET.