I'm with you on the expansion. I have always liked the idea of adding two more members to bring the number back to twelve again. I'm just not sure about the best two options. Cincy and Memphis would give the conference more balance geographically, plus both schools usually have above average basketball and football programs. I have no idea if they would be competitive in the other sports?
I also like the Florida schools. BYU and UCONN would be good options, too, except they would create a wider geographical gap between members.
The big problem that faces the TV revenue stream available to the B12 conference and TV revenue is a direct result of available TV sets as determined by conference footprint population base. Presently the population of the Power 5 conferences footprints are SEC 95.6 million, ACC 94.4 million, B1G 85.1 million, Pac 12 65.6 million and B12 39.2 million. In other words the B12 has between 41-60% of TV sets of the other Power 5 conferences. These numbers dictate the absence of interest in a B12 conference network.
Hence I would propose expanding to 14 teams adding Memphis, Cincinnati, Central Florida and South Florida. The addition of 38.5 million people to the B12 footprint population base would bring the B12 to 77.7 million people a 98.2% increase in TV sets which is what drives TV revenue and is much more in line with those of other Power 5 conferences and actually greater than the Pac 12. It would therefore ibe would reasonable to expect the networks would want a B12 TV network similar to that of the ACC provided of course that Texas/Longhorn network will work with the conference.
Additionally the addition of Ohio and Florida brings improved recruiting access to the existing schools in the B12 to the number 4 and number 2 states for 3/4/5-star recruits which should help the conferences top teams compete for the national championship. Incidentally Tennessee ranks as the 13th state in providing top high school recruits which is about 60% more than Oklahoma the number team in the present B12.
One of the difficulties adding 4 teams would bring is how to establish the divisions for conference play. An East/West division based on geography would result in a West division with a much stronger lineup of Texas, TCU, Baylor, Tech, OU, OSU, KSU and Kansas in the West. This would not make for good division balance.
Having Texas, Baylor, Tech, Cincy, WVU, Memphis and ISU in one division and OU, OSU, TCU, UCF, South Florida, KSU and Kansas in another would be a starting point for making the split.
http://www.sbnation.com/college-football-recruiting/2015/4/15/8143431/states-most-players-recruits
Just one man's thoughts.