We clearly didn't play this right, especially if we knew we were going to challenge the poaching fees. We should have moved more aggressively and gotten to 8 teams in a single move.
Since we didn't, we're not in a great spot. Our best targets in the AAC and MWC have all indicated publicly that they're staying put. For the AAC teams, their exit penalties are so steep that making the change doesn't make a lot of sense economically. It's an easier step for the MWC teams, with lower penalties. That math could change if we can get an extra year to fill out the conference, but I don't expect that's going to be feasible.
Hawaii has not yet signed with the MWC, so they could be a target for us...but I don't think they would be a full member so might not check that box.
UNLV and Air Force are supposedly getting paid $20M to stay. While it's a short term, 1-time benefit, it probably makes sense under the current circumstances. They'd have to pay $18M to get out, and projections right now are that they'd get $12M/year from a media deal, so they would be at a net loss for a year and a half. With the signing bonus in place, leaving the conference now would cost them $38M, so it would take over 3 years for them to start making money...and who knows what else happens in that time.
At this point, I think our best move is to push the lawsuit forward. If we can get a judge to nullify the poaching fees, we've got more money to work with. If we can save $55M in poaching fees, we'll be in a position to go back to some of these teams who turned us down and sweeten the pot. We can tell UNLV that we'll pay them $25M to leave, for example...and make it more financially beneficial for them.
Otherwise, I'm afraid we're at the point of looking even further into the abyss at teams like UTEP - teams that bring nothing to the table other than membership that meets the threshold for a conference. Problem is, those teams may have a net negative impact on media value...and definitely will reduce the amount per school. We could also look at promoting an FCS team, although if we do that I think we should look at ones in bigger markets (Weber State, Sac State) rather than the ones that have been successful like NDSU.
The choices really aren't good in the current circumstances, and the problem is made worse now that we don't know how much money we've got left to work with.