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Yep. I mean there are some exceptions, TCU/Baylor 2014 and Okie St 2011 come to mind. They were all technically 1 win away from the playoff. K-St was close in 2012, but fell short as well.One issue that I see with the current Big12 members is the belief that their program will just fall off the map if they are not Power5. Programs like Boise State, BYU, Cincinnati, and UCF are NOT power 5 but have very stable and successful football programs. I hate to say this, but it is very, very unlikely that any of these 8 teams would play for a National Title if they are in a Power 5 league so from a competitive perspective, they really are not losing anything by moving to G5 status. They could rack up more wins and championships at the G5 level versus a Power 5 level.
Once the new league is formed, like I mentioned, the G5 or whatever it calls itself then will likely have their own national title system as well and the remaining Big 12 teams will have a chance at that.