This comes after widespread reports that the Pac-12 had targeted Memphis in its continued expansion efforts, as well as other AAC schools Tulane, UTSA and South Florida. The AAC issued a statement of its own Monday, in conjunction with Memphis' statement.

Shortly after Oregon State and Washington State secured commitments from four Mountain West members last week to reinvent the Pac-12, OSU athletic director Scott Barnes said he envisioned the conference adding at least two more institutions "as quickly as possible.

Some of the highest profile targets of the Pac-12's expansion have rebuffed their interest, as Memphis, Tulane, USF and UTSA all publicly committed to stay in the American Athletic Conference on Monday afternoon.