Do you really want this without the P2? If we do this we are cutting our payouts down to about 10 MM or so. We fight to be #3 and we probably are getting more than we are now and most likely have 1-2 teams in the playoffs for even more money.
This is not the short term... short term is take the 4 from the pac if you can get them... then play it out and see what happens.
Imho, we will have two options in about 10 yrs or so...
Option 1) is more or less what you lay out... we are a (distant) #3 and get some teams in a play off of some kind playing against (but not really competitive with) the P2...
Option 2) is the mega league with all ~100 or so left behind and create a league where
revenue differences do not destroy competition (the anti-P2)
In option 1, the issue is going to be that the P2 set all of the rules. Think the G5 v. P5 but worse. There is no way for a "gonzaga" type team to emerge in college football because the rules simply do not allow teams to compete consistently or get consistent access to a playoff for this to happen. I think people are hoping this will change with a new playoff. However, the rules the P2 put in place will make it nearly impossible for anyone outside of this group to compete. Yes you will get an invite but you won't be able to afford the bill. Think free agency every off season with schools procuring talent based on financial resources - schools will begin to directly pay athletes based on revenue. The P2 will have a $100M+ advantage and simply buy anyone talented enough to play for them from the #3 conference (us). You will develop a player just to have him purchased by the highest bidder the following off season. There will not be any real competition between #3 and the P2.
Option 2, we develop a league where
revenue is not the driver of competition. That is the beauty of the league. It doesn't matter if you make less in TV money... That is not the goal. The goal is to create the best college sports league in the country. Once it is established and all teams have opportunity to actually compete and win in this league, it could be really fun. You can add relegation between the "FBS" and "FCS" so that even at the lowest levels teams are competing and trying to avoid relegation or teams are trying to move up from lower levels... I think this would be the best and most interesting model for college sports. Sell this to Amazon, Apple, etc. it could become more popular in time than some 24 -32 team semi-pro league ... eventually, if they realize that national interest in a 24 team super league is limited, they may come crawling back... at that point they can play with us - if they accept our rules. Otherwise, they can stay in their super league.