FYI, the BigTen does not own all of their Tier2 content as what we would consider Tier2. In Big12 terms, Tier1 is over the air broadcast, such as ABC and Tier2 is cable, such as ESPN and FSN. With the BigTen, they supply usually 3 games a week to ABC/ESPN. If ABC shows 2 BigTen games, like last week, they show a 3rd on ESPN. If ABC shows 1 BigTen game, like this week, they show 2 on ESPN/ESPN2. The BTN shows the remaining. Also, I don't believe ESPN usually gets 1st pick for that 3rd game.
In Big12 terms, if we kept our Tier2, as defined now, a Big12 network would show every game except 16-18 ABC games a year. What the BigTen has done is split their Tier2 in half and supply part of that to ABC/ESPN as part of that larger contract. What the BigTen considers Tier 1 is much larger than what the Big12 considers Tier1. To say that the BigTen owns all of their Tier2 content is very misleading considering that in the context in which the term "Tier2" is used between the two conferences is very different.
What the Big Ten has done is assure their teams that all conference games are televised. No matter what, your football game will fall no lower than the BTN.
Basically, if I could play God, and Missouri chooses to stay, I'd invite BYU, Louisville, and WVU immediately. Make West Virginia tell you no. Then go back to Fox and tell them you're interested in a Big 12 Network similar to the Big Ten Network for Tier 2 games.
When Tier 1 rights are up, put them up for bid and give them approximately two games a week for the year plus a conf. championship game. During the conference season, everyone is Tier 1 and 2. During non-con, everyone gets one guaranteed game on Tier 3 for individual distribution with one option. If they decline that option, it goes back to the Tier 2 pool for inclusion into the Network. LHN and BYU would then have two games a year they can put on BYUtv and the LHN.
With bye weeks and such, you'd probably have ten games per week in the month of September. That means Tier 1 would get to pick two, B12N would pick four, and then the other four teams can exercise their options.
Given how good the basketball would be with the teams involved, I can see a B12N being very solvent during the winter months.
You can make all of these things work together if people get creative enough.