Unless something unexpectedly changes, the two sides were unable to work out a resolution to Dixon's buyout with TCU, according to sources. TCU would not bring the buyout down, and UCLA did not want to pay the full amount.
The news was first reported by the Los Angeles Times.
UCLA and Dixon's representatives began discussing the job earlier this week, engaging on contract parameters and Dixon's buyout with the Horned Frogs. He had emerged as the leading candidate to replace Steve Alford, who was fired by UCLA on Dec. 31.
Dixon received a two-year contract extension from TCU after last season, leaving him signed through the 2023-24 season. The buyout was reported to be $8 million by the Times.
Cincinnati's Mick Cronin was the other finalist for the job, along with Dixon, according to the Times.
UCLA previously targeted Kentucky's John Calipari, but Calipari signed a lifetime contract with Kentucky earlier this week after discussions with the Bruins. UCLA has also targeted Virginia's Tony Bennett, but the Cavaliers are playing in this weekend's Final Four, and Bennett has delayed any job discussions until after his team's season ends.