Possible next steps:
1. No other teams leave the PAC - In this case, I think they go the Big 12 route and don't add anyone. They take advantage of dividing the pie 10 ways instead of 12 and limp along like we did until the next shoe drops. The big difference between when we decided not to expand and them is that we had a much longer run-way to the end of our TV contract and just had to convince TV to honor the contract, not negotiate a new deal. If USC\UCLA are as valuable as UT\OU was to our contract I think their new deal they are getting ready to negotiate will suck balls and even with the less mouths to feed bonus.
Chance of happening 20%
2. Other members leave - I think this would happen in two steps and might lead to the end of the PAC
Chance of happening 80%
2A. B10 takes a few (1 - 3) more. Assume the B10 stays with their pretentious AAU BS requirement which means they are picking from a pool of Oregon, Washington Stanford, Cal, Utah and Colorado. Oregon and Washington might move the $ needle enough to get an invite and maybe Stanford to pair with ND (have read several things that say ND can buy their way out of the ACC agreement at a reasonable amount). I think Cal, Buffs and Utah are in the KU bucket of "hey hey we have AAU look at me" crowd but without basketball, so they will be left behind.
Chance of 2 going to Big10 60%
Chance of 3 going to Big 10 20%
2B. Remaining PAC schools look for a home. The remaining teams after 2A happens are: Stanford (maybe), Cal, CU, Utah, AU, ASU, the other, other OSU and WSU. Their only options at that point are the Big 12 or take a major step down into MWC or some bastardized version of the PAC+MWC type teams. This gives the Big12 lots of options. The question will be which of those teams increases the TV contract per team (if any).
If we get to step 2B:
Chance they add SDSU, Blue field st and pray: 60%
Chance 4 bolt to Big 12: 40%