Big 12 has stood at the edge of conference expansion for months, but league officials have decided not to add any new members, keeping UCF in the American Athletic Conference.
The Big 12 board of directors met Monday for more than five hours to consider candidates that included UCF and conference rival USF but in the end officials chose to stand pat.
It's a disappointing end for many of the schools mentioned as possible expansion targets, with the Knights hoping for a boost in revenue and national profile by joining a league that features college football powerhouses Texas and Oklahoma.
"Since I arrived at UCF, I have been saying that we can be a nationally competitive, Top 25 athletics program. I still believe that today," UCF athletics director Danny White said. "Our future success does not depend on our conference affiliation, it is based on our unlimited potential. The American Athletic Conference is a great league and we're very confident about our future in the American."