The Pac-12 continues to change, as the conference now bounces back after its collapse. Boise State, Colorado State, Fresno State, and San Diego State are all leaving the Mountain West to join in 2026, while Memphis and UNLV are both favored to follow suit.

The complete list of betting odds for who will join the Pac-12 next is out, via Bet Arizona.

College | Odds | Percentage Chance
Boise State | -10000 | 99.9%
San Diego State | -10000 | 99.9%
Colorado State | -10000 | 99.9%
Fresno State | -10000 | 99.9%
UNLV | -125 | 55.5%
Nevada | +105 | 48.7%
Memphis | +165 | 37.7%
Tulane | +165 | 37.7%
UTSA | +185 | 35.1%
Stanford | +250 | 28.6%
California | +250 | 28.6%.”

Pac-12 commissioner Teresa Gould spoke on the expansion, via CBS Sports' Shehan Jeyarajah.

“For over a century, the Pac-12 Conference has been recognized as a leading brand in intercollegiate athletics,” Gould said. “We will continue to pursue bold cutting-edge opportunities for growth and progress, to best serve our member institutions and student-athletes. I am thankful to our board for their efforts to welcome Boise State University, Colorado State University, California State University, Fresno, and San Diego State University to the conference. An exciting new era for the Pac-12 Conference begins today.”

Currently, Oregon State and Washington State are the only schools in the Pac-12 after the other ten schools bailed for other Power conferences. The NCAA requires conferences to have at least eight schools to be FBS-eligible, so Memphis and UNLV's inclusion would bring the Pac-12 back to legitimacy.

How will this situation play out?

The Pac-12 would need more than Memphis and UNLV to return to form

The Pac-12 Conference logo at midfield at Allegiant Stadium.
© Kirby Lee-Imagn Images

To approach the firepower of the Power Four, the Pac-12 would benefit from having at least the majority of the schools on Bet Arizona's list join the fold. The other Power conferences are now stronger than ever before with the recent consolidation, so an eight-school league with mostly mid-major teams won't be enough to compete at the national level. However, packing the conference with teams like Fresno State, who gave defending champion Michigan all it could handle in Week 1, would be more promising.