That'd leave the old Big 12 with Iowa State, Colorado, Kansas, and Kansas State as homeless. The two Kansas schools will likely be a package deal, and will carry more weight for their basketball prowess.
I could see some of the mid-tier schools like TCU, Houston, BYU, Utah, and Boise State coming in to fill that conference back up and keep the automatic bid potential, but there isn't the same history.
Big East would leave South Florida, West Virginia, Connecticut, Cincinnati, and Louisville.