Austin culturally is more west coast than anything else. It is not a southern city. If you look at climate & culture, the southern Pac-10 teams fit the best. Culturally Denver, Seattle, Portland, & the Bay Area fit well too.
Direct flights make cheaper and easier travel for teams, staff, and fans. In the Pac-14, Texas fans could go on a ski vacation and catch the basketball team on the road. Seattle, SF Bay Area, LA, Phoenix, Tucson, Salt Lake City, Denver, & Austin are all major tourist destinations. San Diego, Las Vegas, Monterey Peninsula, the Pacific Coast, major ski resorts are all a short drive or easy flight away.
Ski vacation or Manhattan, KS? Oregon Coast or Champaign-Urbana? Scottsdale in January or Cedar Rapids in January? San Francisco or Starkville?