The departure of Texas, Texas Tech, Oklahoma and Oklahoma State to the Pac-10 is imminent, four sources within the Big 12 said Monday.
One source said commissioner Dan Beebe's last-minute plan to save the conference has "zero" chance to succeed. Another source said it is "very unlikely" to succeed.
Texas' interests in being aligned with the research opportunities and academic missions of Pac-10 schools is driving the decision, along with money.
Beebe's last-ditch plan included an emotional plea about preserving rivalries and maintaining the best welfare of the student-athlete, one source said.
Texas A&M is now most likely to join the SEC, a source within the Big 12 said. This move, in the wake of Colorado's and Nebraska's departure, would further diminish the chance of Beebe's plan succeeding, one source said.
Texas' decision is expected to come no later than Tuesday. One source familiar with Texas' plans suggested a hearing on Wednesday at the Texas House of Representatives is "a nonfactor."
A report on Orangebloods.com said that Texas was meeting Monday with the other remaining nine schools in the Big 12 about a TV deal included in a plan put together by Beebe that would keep the league intact with its current programs.
The plan includes assurances that a TV deal could net each school between $14 million and $17 million, Orangebloods.com reported, and schools such as Texas could still have their own TV network.
Joe Schad covers college football for ESPN.