I think they believe they’ll have a fall back Big12 invite at any time if the pac implodes further. And that staying in the PAC for now is a better cultural fit. And that they’re willing to get more information on the economics of it before making any decision. Some may also have some illusion that staying in the pac gives them a beer shot at the Big1G. They don’t really have historical connections to the BIG12 and still some loyalty to each other. Obviously seems somewhat insane to trust Oregon, but they know teams have an eye on the BIG1G.

In other words, they’re in no hurry to join the Big12. This said it’d seem like logically the one team who may be more proactive and consider moving would be Arizona. However, they are somewhat tied to ASU who has not given pro BIG12 statements and has an AD reported to be somewhat idealistic in the value he thinks they provide.