I would be good with Texas possibly going to the ACC. It's a better than going to the Pac 12, which would have most road games starting late.
That is a good way to begin thinking about the possibility. Why? To begin, Texas may already have decided that the Big 12 is not and never again can be the long term solution for the University of Texas.
Second, the SEC is not a viable option for Texas. If Texas is not going to remain the King of a southwestern/plains league, it is going to move up in academic status of conference members. Plus, Texas is not going to 'follow' Aggie anywhere.
Third, while there is no doubt that Texas in the Big Ten would produce the most TV revenue, Texas sports almost cannot afford to be in that midwestern fest of boredom - boring play in every sport. Texas in the BT would mean the SEC would forever preach to TX HS coaches and recruits the dulness of the midwest and the exciting, super sexy nature of SEC football and baseball. Worse, the BT is very much of, for and by Ohio State and Michigan. Penn St was certain it would change that about the BT. What a laugh. PSU is as irrelevant to the BT power duo as Purdue or Minnesota, and it always will be. Texas has no need of BT money, which means the BT risks are far too great for Texas to take if it has other options.
That leaves the Pac and the ACC. No doubt the Pac would love to have Texas and OU. And the Pac would take TTU and Ok St to get the 2 biggies. So Texas could take 3 Big BFFs to the Left Coast. But there are major problems. One is that the Pac is dead last in total national TV viewers in both revenue sports. That means that the Pac is over paid, by a good deal. Eventually, the market will correct that over payment. And there is no sign that the Pac will ever get close to to recovering the TV audience it had 30 and 50 years ago. The current PAC states are all hardcore Pro sports rather than college sports. The NFL returning to LA will reduce SC, the only national name brand in Pac football. And while the Pac has good quality baseball, it has even fewer baseball fans compared the SEC and ACC than it does football and basketball fans. Then there is the matter of time zone. The 8 schools on the coast are 2 hours from Austin's Central Time, and going west is harder on players than going east.
The first reason Texas is, not might be, very interested in the ACC is the ND deal. Texas making the same arrangement could keep the LHN, meaning 6 or 7 Longhorns games per year on the LHN. If the LHN is a big deal to Texas, the ACC is the best move, and that without even taking into account ACC basketball and baseball and other non-revenue sports. Yes, it means cutting ties with the region, and that can hurt in some ways. But a bigger national stage overall is worth it. Getting tied into the East Coast is worth it. Getting tied to Elite universities such as UNC, UVA, Dook, Georgia Tech, Wake Forest, Miami, Pitt, BC, and Notre Dame is worth it.
The ACC is now the only Power conference with multiple private schools, as the SWC was. Perhaps Texas would like a reset, but on a bigger scale, one that covers the East Coast as well as TX.