I heard from someone on the east coast (on the phone) that Arizona announced on Twitter that they were leaving the conference...and below must be what he meant.  Jon Wilner thinks it may be a "head-fake?"   (Thanks to ICamel for the tweet!)

 

 

Sounds like someone just wants to stir up some chaos. 

.this conference stuff will take quite a long time to be resolved. Nothing moves fast except fan reactions to announcements... And the news being announced is typically months in the making.