The Big 12 conference as been quite wishy-washy in terms of expansion, and quite frankly money is a big reason for this. To put a long story short, if the conference does expand, they'll likely get a conference title game, which will include multimillion dollar television deals to go with that. Oh, and increase the likelihood for a College Football Playoff bid, too. But there have been reports in recent months that some schools, including powerhouse Oklahoma, think that expanding would actually hurt the Big 12 instead of help it.
Then there's the aspect of if the Big 12 does expand, who's in? Last month it was reported that the University of Connecticut was recently contacted about joining the conference, and on Sunday evening, it was reported that one school who's currently independent is the No. 1 school on the Big 12's short list. There are other schools included in this report that suggests current members want other schools as well.
We'll see if the Big 12 eventually does decide to expand, but having a well-known program such as BYU enter the conference sounds like it would be a positive addition.