The University of Colorado in Boulder has had a long flirtation with the Pac-10 Conference. On December 23, 1994 it was reported that CU's Board of Regents formally rejected the invitation they had received from the conference by a 6-3 vote (5-4 according to some reports).
The reason for the rejection was that CU had already invested a great amount of time in helping the new Big 12 Conference to form. It was widely reported that the university president and many Regents would have accepted the invite at earlier times, but the investment in the formation of the Big 12 obligated the Buffs to see it through.
more....
http://bleacherreport.com/articles/395500-pac-11-could-colorado-be-the-penn-state-of-the-pac
The reason for the rejection was that CU had already invested a great amount of time in helping the new Big 12 Conference to form. It was widely reported that the university president and many Regents would have accepted the invite at earlier times, but the investment in the formation of the Big 12 obligated the Buffs to see it through.
more....
http://bleacherreport.com/articles/395500-pac-11-could-colorado-be-the-penn-state-of-the-pac