Honestly, this issue has been written about since 2011. It's usually the same stuff, Bloggers and no one else really being connected to it.
My take on this is that the ACC's GOR did put a halt to the plans of the B1G. However, I do think there are several possible outcomes.
1, The B1G is headed east. I know many have speculated western schools form the Big 12 but there's the issue of a GOR there as well. My thinking is that the B1G may in fact go for UConn (New AAU member, Great BBall on both sides of the fence, decent Football and excellent academics). I think Since Cuse, Pitt, UofL and the rest of the ACC are in the GOR, Temple may be on deck. Temple does not bring the Philly market in and of it's self but with the entire B1G line-up, they have more then a decent shot). The combination of these two markets would be a huge get. Yes Rutgers gets some of Philly maybe but Temple brings at least BBall interest for now.
FYI if you believe that the B1G will not place 2 teams from the same state in a conference, you need only look at Illinois (Illinois Unv and Northwestern Univ.), Indiana (Indiana Univ and Purdue Univ.), Michigan (Michigan Univ and Michigan State Univ.).
2, The Big 12 will need a Conference Championship game to remain viable for the
"Cough" New Playoff system. The Big 12 could go several different ways.
2a, The Big 12 could take Cincinnati and ECU, (Why ECU, because WVU has openly lobbied on their behalf). UC brings both good Football and BBall to the table and ECU shuts up WVU's fans. This also puts the Big 12 in Ohio and North Carolina. In the heart of both the B1G and ACC.
2b, The Big 12 could go with UC and Houston or UC and USF or UCF. Any of those two combo's makes for a nice Chunk of TV Sets and other then Houston adds 2 more states to the footprint.
2c, The Big 12 could go with UCF and USF as a combo placing one in the northern Division and one in the Southern Division and thus allow every school to play in Florida every year to help with Advertising Dollars and Recruiting the state. Further they could give UCF and USF a Cross over Rivals game every year which will further promote the Big 12 in Florida. This would also be the 4th largest TV Market in the US.
3, The Big 12 could also take UC and Memphis which would greatly enhance their BBall side from the get go and add two more states to their footprint and connect WV via Ohio to the Footprint. There are a ton of options they could take.
So there are options out there, which if any they will take, we don't know because they aren't saying.