From an article about Miami:
"You cannot lock us into a conference," Miami AD Echevarria says. "The fact is that we won about every game you could win last year and maxed out in revenue in our current [ACC] sharing model. And we made the same amount of money as other institutions [in the Big Ten and SEC] whose football programs operate at different levels of investment and performance."
The financial reality of modern college football is that the gap between the teams in the SEC and Big Ten and those outside -- even in the other two Power Four conferences -- is going to grow. The widening revenue splits between the conferences will only exacerbate the challenge of keeping up spending for those in the ACC and Big 12. For a program like Miami, they simply want to be in a conference where everyone else is as committed to spending as they are.
Also, would Bob Chesney have come to UCLA if we were still in the Pac-12?