Multiple reports suggest that the Colorado Buffaloes, and new head coach Deion Sanders, are expected to leave the Pac-12 and return to the Big 12 in 2024. Colorado will receive a full share of media deal with ESPN and Fox, which totals $31.7 million dollars. Colorado left the Big 12 following the 2010 season. The Buffaloes were a founding member of the conference alongside other Big 8 and Southwest Conference programs in 1996. 

This is another benefit of Big 12 commissioner Brett Yormark beating the Pac-12 to the punch for media rights deals earlier in the year. The Pac-12 hasn’t announced a new deal following the announced departures of USC and UCLA to the Big Ten. There is no confirmation that other Pac-12 teams will follow, but there is assuredly talks going on behind the scenes between the Big 12 and remaining members of the Pac-12. 

The Big 12 is in a race to remain nationally relevant amid the departures of Texas and Oklahoma following the 2023 season. Even with an expanded playoff guaranteeing a spot for a the Big 12 champion, a widening gap in revenue between the SEC and Big Ten and then everyone else could be catastrophic. Adding programs such as Colorado increases the Big 12 value and footprint. Denver is a growing city that is already the 16th-biggest television market in the country and Boulder is just outside of it. 

The big fish remaining in the conference realignment game of musical chairs are Oregon and Washington. Even if the Big 12 doesn’t possess that type of lure, potential additions of programs such as Utah or either/both Arizona schools would add more markets. Adding a team like Cal to enter the California market is also a possibility. To go west, Tulane is a potential option to get into SEC country and draw New Orleans into the fold.