If there were a plus option on the table for the Pac, (1) it would be out there as a way to use the media to build support for preserving the league, and (2) the four corner schools wouldn't still be playing this much footsie with the Big12. I don't recall much ammunition being spent to shoot down the trial balloons for reduced payout memberships in the B1G for UW and UO other than the generic "we're in the Pac" votes of confidence. It sounds a lot like oral/ handshake (sorry aggy) type deals have already set both of the above moves in place unless the Pac somehow pulls a rabbit out of its rear in broadcast negotiations. There is no FOIA trail until emails, contracts, or the like pop up. An executive session of the board is a great place to keep members apprised of the plan that officially doesn't exist just yet.
The tea leaves seem to be saying that, barring an apparently unlikely late boost to the available money in the Pac, they are losing schools. Some or all of the four corners will move to the B12, and UW/UO will either leave for the B1G or insist the new contract has an out that leaves that door open in the reasonably near future. SMU is apparently just academic and snobby enough to pass muster for the Bay Area schools, so the league will continue its existence, seat at the table, postseason bonanza, etc with the help of some seriously tier 3 (from a football standpoint) membership additions. The real timer for when this happens depends on the patience of the 'corners' schools. As long as they are willing to wait for a better deal, this can drag out. My guess is that they have already started counting their B12 payouts in their minds and will not let this go unsettled past this semester, likely less than that.