The case for Rice is that it is an AAU member located in the fourth largest city in the US (i.e., a very big market) and in the middle of a talented bunch of high school athletes (Texas). Unlike some of the schools mentioned, it has not had a scandal. Seems to be a good fit with the PAC 12.
The conference could take four schools. The PAC-8 schools could be PAC West, with Stanford as the academic anchor. The other schools could be PAC East, with Rice as the academic anchor.
The conference could take four schools. The PAC-8 schools could be PAC West, with Stanford as the academic anchor. The other schools could be PAC East, with Rice as the academic anchor.