The Pac-12 will not expand, and will remain a 12-team conference, commissioner Larry Scott announced on Tuesday.

For now, if Texas and Oklahoma want to leave for another conference, it'll have to be one that isn't the Pac-12.

Here's Scott's full statement:

WALNUT CREEK, Calif. -- In light of the widespread speculation about potential scenarios for Conference re-alignment, the Pac-12 Presidents and Chancellors have affirmed their decision to remain a 12-team conference. Pac-12 Commissioner Larry Scott said, “after careful review we have determined that it is in the best interests of our member institutions, student-athletes and fans to remain a 12-team conference. While we have great respect for all of the institutions that have contacted us, and certain expansion proposals were financially attractive, we have a strong conference structure and culture of equality that we are committed to preserve. With new landmark TV agreements and plans to launch our innovative television networks, we are going to focus solely on these great assets, our strong heritage and the bright future in front of us.

What was that about a "culture of equality?"

As the serving Big 12 blogger, I'm not quite sure what that means.

And you thought things were awkward in the Big 12 already ...

Is equal revenue sharing on the way? Will the league keep commissioner Dan Beebe now that Oklahoma's leverage to be given what it wants to stay in the Big 12 is gone? What happens to the Longhorn Network now?

Oklahoma and Oklahoma State have repeatedly stated that wherever one goes, the other will go, so unless the SEC changes its mind and expands to 16 teams, that option is out.

Even more interesting days ahead for a fascinating few weeks in the Big 12.