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That's not how I read it. I think it's meant to imply that while 20 school have expressed an interest, the Big XII is basically paying 14-16 of them lip service and UConn is on a short list of 4-6 programs. It's like when a company puts out an RFP (or RFQ) or when UConn posts a job opening. They already know, generally, who they are looking for, but have to appear to be considering all applicants.
I think that's how we read it cause we know about this stuff, but that doesn't appear to be how it's written.
"[...] 20 schools have emerged as possible candidates, including Brigham Young University, the University of Cincinnati, Boise State and UConn."
That implies the short list is 20 schools. Also saying these 20 "emerged" as possible candidates shows a general misunderstanding of the process, given that anyone could send information to be considered.