still kinda lost where TV and media and money didn't run stuff 10-15 years ago.
The primary driver was always ticket sales. Media dollars weren't nearly as much as you'd get with folks coming through the gate, especially at schools with gigantic stadiums. It was important for schools to be geographically linked because you wanted butts in the seats.
We reached a tipping point in the last ten years where the vast majority of schools now take in less at the gate than they do from media contracts. Schools don't need to be geographically linked because WVU makes us more money by being a TV partner than they would by having their fans drive to our stadium (which they obviously won't most likely do).
We took in more at the gate with our 50k stadium back in the early-to-mid 00's by having 8 home games a year (appx. $1 mill per game) than we did in conference money (about $6 mill a year). Missouri wasn't a threat to leave because they could make more money by having our us, KU fans, NU fans, ISU fans, etc. drive to fill their crappy stadium than they would by making $1 million more a year being in the SEC. And all of those monetary gains would have been offset by travel costs, so movement was impeded.
But that's not the way it works now. The money has become so asinine that not moving to a different conference can put you at a tremendous disadvantage. Florida State, in the next decade, will most likely make over $100 million less than Florida by being in the ACC vs. the SEC. That buys a lot of coaching salaries and major capital improvements. The costs of not moving vs. moving are amplified now by opportunity cost.
The ACC stuck together so they could make decisively less money than everyone else because, well, they wanted to stay together. Maybe they're like the dude sitting in front of the tank at Tiananmen Square, I don't know. But they stopped Armageddon yesterday, and they gave the landscape ten more years to settle. By then, who knows how much more or less power TV will have? But as of today, it almost drove college athletics to the brink, and we dodged a bullet.