Big 12 expansion, realignment: Could Colorado start exodus from Pac-12 Conference?

College expansion and realignment speculation has returned with a bang.

Could big changes come to the Big 12 and Pac-12 soon?

CBS Sports reported Tuesday that Pac-12 school Colorado "has been in 'substantive' talks with the Big 12 about possibly joining the growing league."

The report, by Dennis Dodd, said that "Colorado is performing due diligence to determine whether to return to the conference it once called home. The Buffaloes, like the rest of the Pac-12, remain in wait-and-see mode regarding a new media rights deal that has yet to be solidified."

Dodd wrote: "Colorado and the Big 12 have met face-to-face while involved in consistent talks over a period several months, according to multiple sources. It was made clear that a move to the Big 12 would not be made without the support of football coach Deion Sanders. CU's rumored Big 12 interest was the talk of the Fiesta Summit earlier this month in Scottsdale, Arizona, with several sources speculating in the hallways. It became more public last week when the Oklahoman's Berry Tramel reported, "Colorado is ready to commit to joining the Big 12 'soon.'"

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The Big 12 has long been reported to be interested in Colorado, but that is not the only Pac-12 school that the conference has reportedly had an interest in. Arizona, Arizona State and Utah have been listed as other potential expansion candidates for the Big 12.

Could the Four Corners schools all go to the Big 12?

Dodd's report offered this update: "Big 12 schools are expected to get an update about expansion prospects this week during conference spring meetings in West Virginia. There remains the feeling out there that, should (Big 12 commissioner Brett) Yormark can get one Pac-12 school to defect, it would create a domino effect leading to the other Four Corners schools — Arizona, Arizona State and Utah — fleeing for the Big 12 as well. Adding those four programs would satisfy part of Yorkmark's desire to become the only conference with teams in all four time zones."

Speculation about Colorado's future, and the future of the Pac-12, has swirled since the CBS Sports report was published:

More: Big 12 expansion with Arizona, Arizona State, Utah, Colorado? Pac-12 AD responds to report

Front Office Sports: Don't expect Colorado to stay still much longer

David Rumsey writes: "Colorado athletic director Rick George was decidedly noncommittal on his school’s athletic future. “In a perfect world, we’d love to be in the Pac-12, but we also have to do what is right for Colorado at the end of the day,” he told CBS Sports. With new coach Deion Sanders stoking excitement in Colorado, don’t expect the Buffaloes to stay still for much longer."

Sports Illustrated: Colorado leaving options open for potential conference move

James Parks writes: "Colorado athletic director Rick George responded to the first report by saying that the school remains a committed member of the Pac-12 and CU chancellor Phil DiStefano echoed those sentiments in his own remarks concerning realignment rumors. But both also appeared to indicate that the school would leave its options open and "do what is right for Colorado," and that their commitment appeared to depend on what kind of media deal the Pac-12 can get for member schools."

More: Big 12 expansion speculation: Arizona, Colorado 'odds-on candidates' to leave Pac-12 first

Bleacher Report: Pac-12 could be dealt serious blow in conference realignment

Scott Polacek writes: "Such exits, when paired with the impending departure of powerhouse programs USC and UCLA to the Big Ten, would be quite the blow for the Pac-12 and its ability to be taken seriously in future College Football Playoff discussions."

Pistols Firing: Pressure increasing on Pac-12 amid media rights deal saga

Kyle Boone writes: "Colorado’s newfound interest in the Big 12 comes as the Pac-12’s imminent future becomes increasingly murky with stalled talks on a new television partner and with UCLA and USC leaving for the Big Ten. With the Big 12 striking a TV deal before the Pac-12, it seems to have mounted increasing pressure on the league and its members to find financial security — and soon. Each day that passes is another of uncertainty."

More: Big 12 expansion, realignment speculation: Conference 'prepared' to add Pac-12 teams

OutKick: Pac-12 schools fear first domino falling in conference realignment

David Hookstead writes: "Everyone in the Pac-12 fears the first domino falling. The biggest issue for the PAC-12 is that once one team flees, it could set off a domino effect that can’t be stopped. It’s still unclear if that will happen, but the threshold to be worried was crossed a long time ago. Oregon and Washington believe spots might be waiting for them in the B1G, Colorado reportedly is engaged in talks with the Big 12 and once one team leaves, the rush for the lifeboats could be on. It’s amazing how last year, George Kliavkoff tried to convince everyone the Pac-12 was strong and in control. Now, it feels like a government in a failing state that is on the brink. A coup might be underway and people are fleeing for the borders. The situation is unbelievably fragile, and without a new media deal, Colorado has apparently decided it’s time to look at all options. Prepare for absolute hell to break loose if the Buffaloes do return to the Big 12. Things could fall apart overnight in the Pac-12."

Might the Pac-12 soon look very different?

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Reach Jeremy Cluff at jeremy.cluff@arizonarepublic.com. Follow him on Twitter @Jeremy_Cluff.

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This article originally appeared on Arizona Republic: Big 12 expansion speculation swirls around Colorado, Pac-12 schools