The NCAA doesn't share much of the money they get from CBS for the NCAA tournament (about 700million a year) so that just pushing the schools to follow the football tv money even more. Eventually the handful of remaining super conferences will start demanding their share of the March Madness money one way or the other.
Actually they do... and tournament teams get an extra cut, which is why the cinderellas and mid-majors always cry down the "favoritism" shown to granting the big conference schools extra spots. The thing is that not even tournament money could match the kind of money that football brings in. America is a footballing nation and college football by far is the number one varsity sport. Schools with so so football programs always looking for ways to move up to bigger conferences so that they could command part of the sponsorships, gates, TV and Bowl revenue.
Basketball is GU's only revenue-generating sport, and safe to say, without it I could not have afford to attend Georgetown as a great deal is used to support financial aid. So for me, nostalgia aside this is a very personal loss... and trust, there will be a loss. Minus the money that a conference such as the Big East commands, the financial hit to GU will be huge. The needs of the program will be met thru sponsorship deals with Nike and other local and national partnerships etc. However, the revenue hit to the University will be difficult to weather, particularly at a time when we are working so hard to increase the size of our endowment. We compete with the Ivy League schools for top students, but don't have the money to throw at them like the Ivies... I should know, every year we lose students who I've personally interviewed, to other schools who can offer them a full ride. In today's economy, prestige is nice, but money talks.
I am very disappointed with Syracuse... rivalry aside, I've always loved the football program. Jim Brown, Ernie Davis., Darryl "Moose" Johnston... HOFers. Don McPherson, Marvin Graves, Donovan McNabb... pioneering black QBs. Then you have perennial all-pros like Dwight Freeney and Marvin Harrison... then my boy David Tyree with the helmet grab. But they let mih down here... as a founding member ah would never have expected this sort of betrayal from them. Pitt is some dirty facking dogs too... the Big East just turn down a HUGE TV deal with ESPN... a deal that Pitt voted against, and now they bolting. That is money that would have tided over the league for the next 10 years in a declining market when it's set to lose (at least) two of it's premier programs. Real poor. But say what... that is life, the league have to now get creative, partner with the right schools and find a way to succeed inspite of the odds.