On the academic side, AAU is a "really nice to have" but not a requirement. B1G cares a lot more about that than the Pac-12 and is pissed that Nebraska losing status resulted in the conference not being able to claim that ever B1G member is an AAU member.
But being mostly AAU is prestigious. Pac-12 has 8: Arizona, Cal, Colorado, Oregon, Stanford, UCLA, USC, Washington.
I believe that the Pac would like to keep it as majority AAU, if possible.
Tier One is an absolute requirement, though. All 12 members are at that status.
When it comes to conference membership and expansion, the mistake the media and fans make is that we are thinking like sports fans instead of thinking like university presidents and chancellors. Those folks are making the decisions here, not the athletic directors.
1. There are no more AAU members within the Mountain & Pacific time zones that are AAU members.
2. The only non-Pac R1 universities (Tier One doctoral research) within the Mountain & Pacific time zones are CSU and New Mexico. *Of note here is that P5 conference affiliation seems to lead directly to doctoral research dollars that may vault a schools from R2 into R1 status -- KSU is R1, for example.
3. Bordering the Pac-12 region (and ignoring that strip of Oklahoma that separates CO from TX), we have the following AAU schools (also R1): Kansas, Rice, Texas and Texas A&M . In the central time zone but with one flyover state, we have the following additional AAU schools: Iowa, Iowa State, Minnesota, Missouri and Tulane.
4. Bordering the Pac-12 region (ignoring the OK strip again), we have the following non-AAU Tier One schools: Hawaii, Houston, KSU, Nebraska, North Texas, Oklahoma and TTU. In the central time zone but with one flyover state, we have the following additional non-AAU Tier One schools: Arkansas and LSU.
5. If we go with Tier Two (R2) schools within the footprint or just outside it (these are still research intensive doctoral schools), here are the ones that maybe the Pac-12 could make a bet on that affiliation with the other Pac schools would bring them up: Baylor, BYU, Idaho, Nevada, New Mexico State, Oklahoma State, San Diego State, SMU, TCU, Tulsa, UNLV, Utah State, UTEP, UTSA, Wyoming.
Based on this, the favorite of the academics would be 4 AAUs but some compromises would be made if we are talking about a state flagship type institution that is R1.
Boise State and Air Force are non-starters due to academic status for doctoral research (R3).
Baylor, BYU, SMU and TCU with the double whammy of academic freedom questions surrounding a faith-based university (we have none of those in the Pac-12) along with them being R2 makes them non-starters.
I think we can pull in some of the considerations that Larry Scott's office would use and rank the candidates:
No Doubt: If Texas and Texas A&M wanted to join the Pac-12, it would be rubber stamped by all parties.
Almost No Doubt: Nebraska, Oklahoma and Kansas. Oklahoma has everything except AAU, but is highly respected for doctoral research while having a Top 5 prestige football program along with success in other athletics. Nebraska is pretty much Oklahoma but a small step down on these same things. Kansas would cause some conversation due to market and football success but would be approved.
Probably Get Approved: These would have to be packaged with one or more of the above schools, I think. Houston, Texas Tech, New Mexico - or if we go farther east after land bridging with one of the 5 at the top - then we can probably add Missouri and Tulane to the list. (Personally I don't think the line of states that borders the Mississippi River on the west fits within the Pac footprint or culture
Might Get Approved: Academic, market or political questions make it hard for the Pac-12 to go here but under the right circumstances it could happen: Nevada, UNLV, Utah State, Colorado State, Oklahoma State, Kansas State, San Diego State and Hawaii. Some of these could look better in 10 years if realignment doesn't happen until the current Big 12 deal expires with a bump to either their on-field or academic cache as needed. I'd keep my eye on UNLV and SDSU, in particular, within that discussion.
So, given the above and assuming I am right, that leaves the Pac-12 with 4 viable options at the present time:
1. Do nothing.
2. Make a play to break up the Big 12 by going after Kansas, Oklahoma, Texas and Texas Tech with a big offer.
3. Expand to 14 through a smaller play that might deliver Texas cable systems through the universities of Houston and New Mexico.
4. Throw out all the AAU/R1 stuff and make a play to absolutely own every major city in the Mountain & Pacific while creating a crazy good basketball conference (crippling the MWC in the process) by adding New Mexico, SDSU, UNLV and Boise State... betting that population growth and whatnot will cause this decision to pay huge dividends in the future.