The University of Colorado board of regents finished an emergency meeting late Tuesday to discuss the school's options related to conference realignment, but a CU spokesman said the school has no invitation from the Pac-10 and no announcement is planned.

The University of Colorado board of regents finished an emergency meeting late Tuesday to discuss the school’s options related to conference realignment, but a CU spokesman said the school has no invitation from the Pac-10 and no announcement is planned.

Orangebloods.com, a University of Texas-oriented website, said a “major announcement” is expected Wednesday from Colorado and said part of the regents’ discussion would likely center on how the school would accommodate a $10 million buyout penalty for leaving the league. That website had reported Monday that Pac-10 commissioner Larry Scott would begin this week offering formal invitations to six Big 12 schools.

It has been widely believed that Nebraska might hold the key to Pac-10 expansion. The school, along with Missouri, is considering a possible invitation to the Big Ten, in which case Texas is thought to be more amenable to possibly aligning with the Pac-10. Colorado was one of the six Big 12 schools named as potential additions to the Pac-10 in Scott’s plan, along with Texas, Texas A&M, Texas Tech, Oklahoma and Oklahoma State.

The Pac-10 would prefer Colorado over Baylor, but it’s unknown whether an early, unilateral acceptance by Colorado would hurt the league’s ability to attract Texas because of political pressure in Texas to keep Baylor in the same league.