Regardless of what Texas does, the BE should be pressing KU, KSU, and Mizzou hard to join up. The 12/20 hybrid can actually be a pretty nice setup.
For bball
EAST Group
Div 1
SU
UConn
Gtown
SJU
SH
Div 2
Nova
WV
Pitt
PC
RU
WEST Group
Div 3
Cincy
Marq
ND
Lville
DePaul
Div 4
KU
KSU
USF
TCU
Mizzou
Play everyone in your division twice.
Play everyone in the other div in your group once.
Play one div in the other group, alternating div and home and homes each year.
Total 18 games.
You'll develop rivalries with your historical or geographic neighbors, while still seeing the other group every other year.
Football
East
SU
UConn
Pitt
WV
RU
USF (they switch for football)
West
KU
KSU
Mizzou
TCU
Ville
Cincy
The usual scheduling setup applies.
Overall not a bad deal. Good football schools in Pitt, WV, Mizzou, SU, KSU. Basketball is clearly unmatched. With the TV dollars flying around, the money will be more than adequate.
It's unique, but the BE has always been unique. The geography actually makes a little sense with the 3 midwestern schools added. It keeps the traditional rivalries in place, and secures the future of the football schools.
Given the situation, I don't think it's all that bad of an option.