It's been a whirlwind day for Texas fans. This morning the Horns were headed to the Pac10, but by late this afternoon, UT declined an offer to join the Pac10 and will instead stay in the Big12.

According to The Dallas Morning News, Pac-10 Commissioner Larry Scott confirmed that the University of Texas has declined an invitation to join the conference.

In a brief phone conversation, Scott said: "We've been informed by University of Texas president Bill Powers that Texas will stay with the Big 12. We have not received definitive details about this decision."

While a few details still need to be worked out, Big 12 commissioner Dan Beebe has a deal in place to keep the 10 remaining teams in the conference.

Under the new structure, the ten teams will play in a round-robin format, ensuring ...

If you've been following the Fanblogs Twitter Account (@fanblogs) this morning, you already be aware that negotiations are ongoing at this moment to salvage the Big 12 Conference.

According to multiple sources, Big 12 commissioner Dan Beebe has been working behind the scenes to line prospective television deals, if the remaining Big 12 schools (sans Colorado and Nebraska) would remain in the conference.

As first reported on Rivals sister-site Orangebloods.com, Beebe has proposed the following for the ten remaining Big 12 teams:

- A new television contract in 2011 comparable to the SEC's deal, bumping revenues from the $7-$10 million per year to $14-$17 million per year. The numbers would be higher - perhaps as much as $20 million per year - for teams that appear on television more frequently, such as Oklahoma, Texas, and Texas A&M.

- Each ...

Quite the day in CFB this Thursday.Not only all the conference defections, but USC's long awaited penalties from the Pete Carroll era are finally in: A 2-year ban on post season games, the loss of 30 scholarships and the vacation of all victories in which an ineligible player (Reggie Bush) participated. Bush has been ruled to have been ineligible at least as of December 2004, which would vacate the BCS title game victory in the Orange Bowl over Oklahoma in January 2005. That could possibly trigger vacating his Heisman Trophy for the 2005 season. The Heisman Trophy Trust has stated that it will have no comment until the appropriate time.

Further rumors are indicating that the NCAA may allow any USC player with two or more years' eligibility remaining to immediately transfer to another school, which could lead to a mass exodus of talent for the ...

With today's official announcement of Colorado to the Pac10 conference and the expected announcement of Nebraska to the Big10 conference (which officially makes it a Big12, don't you think?)... it would seem that the summer realignment-ageddon has officially begun.

Here's a quick what we know, what we can surmise....

- Colorado is officially joining the Pac10. It's unclear as to whether the Pac10 intends to hold at 11 teams, but we should expect the Pac10 to seek to add at least one additional member. For years the argument against expansion centered around the round-robin schedule format and - with 11 schools - that format is officially out the window for college football. Adding one more school would ...

In the ongoing saga of "As the Big 12 Turns", Rivals.com site Orangebloods is reporting that the conference has given Nebraska less than two weeks to decide if it will remain in the Big 12.

According to sources, Nebraska is on the fence as to its future with the conference. The nine schools that are actively working to maintain the current conference, including powerhouses Texas and Oklahoma, are convinced that the league can survive the hypothetical departure of Missouri or Colorado; however, the Huskers are seen as key to the viability of the conference, given the Huskers' stature and marketability.

If these reports are accurate, then kudos to the Big 12 for not standing idly by and being held hostage by a growing list of conference suitors. I'm not exactly sure how you enforce the ultimatum without requiring members to sign a revised agreement with a substantial ...

While college football waits seemingly forever for the Big Ten to announce their expansion plans, The Pac-10 might be prepared to steal their thunder and send invitations out to six teams from the Big 12. Chip Brown, a former Texas beat writer for the Dallas Morning News says today on his pay site Orangeblood.com, which is sponsored by Rivals, that the Pac-10 is ready to extend invitations out to Texas, Texas A&M, Texas Tech, Oklahoma, Oklahoma State, and Colorado as early as this weekend. Yup, that's what's known as rolling thunder.

Brown cites multiple sources on his site, which we can't see currently because of it's subscription status. This new PAC-16 will then split into two divisions, with the new kids on the block joining the Arizona teams to form one division with the remaining ...