The PAC-12 has big positives and negatives. Their members are so geographically isolated that no other major conference would try to poach them, but that causes trouble when trying to secure quality secondary bowl bids. Their footprint is growing quickly, representing large potential future profits, yet the western third of the country is (mostly) indifferent toward college sports. Their current membership makes the most sense of any P5 conference (Utah borders Arizona, Colorado borders Utah), but there is only one high-quality candidate left in their part of the country, and the academicians want no part of them.
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