Bringing Texas Christian University into the Big 12 makes the conference more stable, said Texas Tech President Guy Bailey.
Bailey spoke to The Avalanche-Journal earlier today during a break at the university's regents meeting.
Bailey said he and other presidents of schools in the Big 12 held a telephone conference today, beginning about 6:30 a.m.
At that time, the presidents authoritized the interim commissioner Chuck Neinas to make the offer to TCU, Bailey said.
Although athletics stood as the primary reason for the offer to TCU, Bailey said, "I think their academics are harmonious with the Big 12."
The presidents' vote to make the offer was unanimous, but Missouri, on advice of legal counsel, did not vote.
Bailey said the presidents did not discuss Missouri's situation.
Missouri said earlier this week it would look at exploring joining other conferences.
"If Missouri leaves, we'll get another school, but I think we'd all prefer for Missouri to stay," Bailey said.
The Big 12 is also losing Texas A&M a year after losing Nebraska and Colorado.
TCU's acceptance is not a "sure thing," the Tech president told The A-J.
However, Sources told CBSSports.com TCU will accept the invite for the 2012-13 school year.
Multiple TCU sources told CBSSports.com "it's a done deal."
The CBSSports.com report said by leaving the Big East before it officially became a member, the Horned Frogs will have to pay a $5 million exit fee, but are not bound by the Big East's 27-month requirement for notification.
Bailey said conference presidents did not have a timeline for TCU's move into the Big 12.
He'd like to see the move as soon as possible, next year would be preferable, Bailey said.
TCU was a member of the Southwest Conference before some of its members, including Texas Tech, left to form the Big 12 in the 1990s.
Recently, TCU had announced plans to join the Big East Conference.