I’m a bit bummed out today after learning that the University of Texas has decided against joining the Pac 10.

The Big 12 has been given new life. This morning it remains unclear what Texas Tech is going to do, although it now seems a good bet that Tech regents will vote to stay in the Big 12 along with Texas … and Oklahoma … and Oklahoma State. I don’t know yet what the Aggies will do. The Southeastern Conference courted Texas A&M quite vigorously, but was told that the Aggies are staying put.

Why am I bummed? Well, I’m a Pac 10 guy, having grown up in Oregon and watching the Ducks and Oregon State play football since I was a kid. I hate Southern Cal intensely, mostly because the Trojans beat up on the Ducks and Beavers with regularity for too many years. Now, though, the tide has turned and both Oregon teams have exacted a good bit of revenge.

I would have enjoyed seeing a super-duper Pac 10, with eastern and western divisions. The idea was to have the traditional Pac 10 schools comprise the western half, with Arizona and Arizona State joining the eastern division along with Colorado, UT, A&M, Tech, OU and Okla State.

But alas, it’s not to be. UT has played the system well, getting a huge boost in TV revenue, and permission to form its own TV sports network, something the Pac 10 apparently was unwilling to allow.

It’s not as though UT is hurting for money. The school routinely vies with A&M and Harvard as the most richly endowed school — in the world! But it’s clearly true that you cannot have too much money when there’s more out there.

Many fans of the Big 12 are happy at today’s news. This Pac 10 fan isn’t so cheery.

Oh well. What could have been …