At this time, I think Memphis brings the most to the Big 12 table (even more than Fla St with the GOR restrictions). Memphis fits geographically and financially. Like Cincinnati, Memphis adds a sizable tv market and recruiting area that is currently picked over by another P5 conference.
I would love to see the Seminoles! UC has more history with Loserville than any of the above mentioned teams and I truly believe (my opinion and thoughts only) the Big 12 goes to 12 this spring/summer and 16 when the ACC GOR expires or gets destroyed by SEC/B!G expansion. Ultimately there will be four 16 team conferences.
The B!G will add two of these ACC teams: BC, Virginia, N.D. or NC. I predict that this conference shuffling will finally force Noter Shame to pick a home. It is the only expansion team that doesn't make sense geographically, but they add a national tv audience. I predict the B!G gets ND and BC.
The SEC will also target the Tarheels. They won't go after BC. I predict the SEC will get NC. They will also look at Miami Hurricanes.
With the addition of UC and Memphis, the Big 12 will go after four more teams and they won't all be ACC teams..The obvious ACC targets will be Fla State, Clemson, Georgia Tech, Loserville, and Pitt. Loserville and Pitt would combine with UC/WVU to form a nice travel cluster and again further add current P5 territory with large tv markets. I predict the Big 12 will add these four teams: Fla State, Georgia State, Loserville, and BYU.
This super conference expansion will happen by 2024/25, but could happen sooner if the GOR is successfully challenged.