I'd say that the SEC has a pretty strong "apparent authority" defense. One would be reasonably justified in relying upon the statement of the commissioner of the conference. Estoppel FTW!
The commissioner should know what's what before he opens his dirty whore mouth.
All that said: keep the fAggies in Texas. I like my conference just the way it is.
Sure, but you have to rely upon the apparent authority, which means the SEC would need to actually act and uphold its end of the "contract."
However, I think it's too late for that. How are you going to claim apparent authority when the commissioner has retracted his previous offer and has informed the SEC that he doesn't have the authority to speak on behalf of the universities?
Sure, if the SEC had accepted A&M and this was a done deal, and
then Beebe, Baylor, and whoever else came back and said, "Sorry guys, we screwed up. We'll need A&M back now," then yeah, in that case you would have had actual reliance upon apparent authority.
But because the SEC did not actually rely upon Beebe's letter before he cleared things up, then I don't think that apparent authority would hold up as a defense.