Freaked may have posted a similar Fanblogs post:
This is offered because it reflects on recruiting. Not much is often noted that Memphis is in the middle of congested recruiting grounds, surrounded by Ole Miss, Miss. State, Arkansas, Arkansas State (SunBelt, across the river), Tennessee, and Vandy, though the Commodores have a broad-based approach being an expensive private institution.
Not sure how the SEC would welcome another BCS school in their midst that's also not part of them.
ACC does not want East Carolina, and schools such as UNC, NCSU, and Virginia, may be happy seeing East Carolina stay in C-USA.
Do FSU, UF, and Miami want UCF in the BCS? USF perhaps would like a partner of convenience, but probably not added recruiting and bowl competition and perhaps seeks to remain appearing "a cut above" with their only-one-in Fla. BE membership.
Sports politics is not always limited to a particular conference and a few schools trying to get noticed. Sometimes, it is "we don't want you", but "don't want someone else notable having you either".