Assuming that Oregon and Washington are their way out as the 2 biggest brands the Pac12 has to offer, here's my initial lipstick on a pig thought:
The BigPAC Conference
West Division:
Washington State, Oregon State, Stanford, Cal, Arizona, Arizona State, Utah, BYU, Colorado
East Division
Texas Tech, TCU, Baylor, Houston, Oklahoma State, Kansas, Kansas State, Iowa State, Cincinnati
West Virginia & UCF to the ACC, and eventually SMU replaces Cincinnati.
It would make the most sense geographically, and more importantly you have representation in the Houston, Dallas/Fort Worth, Salt Lake City, Oklahoma City, Kansas City, Phoenix, and Bay Area media markets.
It would be a decent football conference, but it would be a pretty strong basketball conference, mostly because of the Big 12 members.