When you joined the league I was hoping Penn State and Nebreska would play each other to end the season. We have some history together and some great games going back to the 80s, and I think if both programs were rolling that would be a hell of a game to cap the season between two blue bloods. That said the big protects the Michigan vs OSU game above everything else and so I don't think they want the competition.I'm not saying it will happen but there is a fair amount of fan base in both Nebraska & Arkansas that wouldn't mind competing in the Big 12. Those two additions would make the Big 12 a really good league.
I think both Nebraska & Arkansas would do better in the Big 12 than their current leagues. Even if the tv money would be a little less with success comes better fundraising which could offset the difference if it was small.
I think if Nebraska is to do better in the B1G the league would need to do divisions something more like
Div A: PSU, Neb., Ia., Md., Rutgers, Wisconsin, Illinois
Div B: OSU, Mich., MSU, Mn., Northwestern, Indiana, Purdue
Nebraska needs more access to the states in the league that have more recruits. The problem is PSU wants to play OSU every year which maybe that game could be protected. The other issue is the PSU vs OSU/Mich. have both been monster ratings games each year (some of the highest in CFB) and I don't see the B1G wanting to interrupt that.
And believe me an elite Penn State vs Nebreska would be big time competition.