This is essentially the Big12 trying to have their cake and eat it too. They are looking for more revenue streams (as is everyone else). The easiest way to do that is to add another game; one that would increase tv and ticket revenue for the conference. It doesn't mean that they eventually won't expand, but it allows them additional funds while they are waiting to figure out teams that they might want...
The ACC tried this and failed, so had to add BC. The NCAA could have prevented a lot of unnecessary conference expansion a long time ago if conferences didn't need to add teams just to get to 12.
I believe the Big East considered asking for something similar and the commissioner of the PAC Ten responded as if we wanted to barbecue puppies at our games.
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