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TCU To Join BigXII In 2012 Per Multiple Reports

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The BigXII has started to pick up the pieces of its formerly great conference. They are stealing TCU away from the Big East (kinda sorta). There are multiple reports of this, including this one from CBSSports:

TCU will accept an invitation today to join the Big 12 Conference for the 2012-13 school year, college football industry sources told CBSSports.com.

Multiple TCU sources told CBSSports.com "it's a done deal."

TCU was scheduled to join the Big East on July 1, 2012, but instead will join the Big 12. By leaving the Big East before it officially became a member, the Horned Frogs will have to pay a $5 million exit fee but is not bound by the Big East’s 27-month requirement for notification.

3 questions:

1. What is going to happen to the Big East? Are they toast?

2. What other teams are going to join the BigXII, if any?

3. How does this change the math on newly "playing the field" Missouri? Do they stay in the BigXII or try to go elsewise?

I'm just happy that Cal is ensconced in the warm confines of Larry Scott's Pac-12. GO BEARS!