What do you mean by "low ball offer"? If Cal becomes part of B1G, then they would get equal share ?!?! Maybe have to pay more in other costs, delayed payments, etc., but in long term would be same!?!?
Cal makes some sense, but I think Colorado brings more "brand" and national and regional appeal to the broadcast markets (yes, I'm biased). (it's too bad we haven't been relative in football for over twenty years and it's coming back to bite us) CU fills in the flyover location and travel. I don't think Cal necessarily wins much in the academic rating. For example, again bias, I compared Cal and CU's engineering programs and chose CU for my school(ing); upon graduation when I interviewed, CU was thought favorably by the engineering industry and added to my resume.