Ahem:
The best thing that I’ve heard is that a conference has to 8 members- but there is a 2 year grace period. There is a very, very funny scenario where OSU and WSU form a two team conference, play an 11 game OOC schedule vs teams against whom they can go undefeated, play the last game of the season against each other as ranked foes, and end up highly enough ranked where they get a bid to the playoff. They’d then split the money between the two of them.