I don’t see contracts holding up anything. Remember the ACC imploding helps ESPN tremendously by getting them out of a bad deal and allowing bigger games for the SEC. Especially if Notre Dame goes to the SEC. There will be back channeled deals and this thing will get sorted out quickly. There isn’t much money preventing an implosion like there was in the Big XII.
Well, the issue there is that schools that would be left behind are going to do all they can to maintain those contracts. They are probably going to try to use it to leverage their way into the Big 10 or the SEC, and I can't blame them. No one is going to want to be left out.
I guess that begs the question of whose baggage has to be taken to get something done. If someone asked me a while ago about the biggest prizes outside of the Big 10 and the SEC I probably would have said (well I guess I have said), Texas, Notre Dame, USC and North Carolina.
Well, I was never that big on Oklahoma but they were part of the Texas package deal. Then there's the USC deal in which UCLA was included as well (UCLA doesn't really move the needle much in my opinion). What is Notre Dame going to demand? Standford, Pitt, or Boston College? They have the leverage I suppose. Then a lot of people would assume North Carolina demands Duke be included.
So, oddly enough it all becomes about what you have to take to get the deal done. I'm worried that the cultural fit/football power crowd had enough say and the SEC ends up with something like NC State, Virginia Tech, FSU and Clemson... and I don't think that really helps all that much.
I could warn up to a North Carolina/Duke package deal though, that's a couple of massive basketball brands. But is that really better than just adding NC State and Virginia Tech?
Also, it's starting to seem like the Big 12 might end up being an... almost super conference if things play out a certain way. They can pick up a few Pac 12 schools, then the ACC leftovers and if that could include Clemson, FSU, Miami, and Oregon so that could be interesting. It might take a while for those programs to starve...
Edit:
You are right the Big Ten would never take Va Tech. It is AAU schools only for them, and Notre Dame.
I do think the SEC would, but probably only as a package deal to get Virginia. There was a time when I thought Virginia Tech was a shoe in because of football and cultural fit. But it's been somewhat proven now that their football success was mostly due to Frank Beamer, and recruiting advantages that are no longer present. Now, they are a pretty dull addition. Yeah, they've got a rowdy home field advantage, but that's only true when they are good, and it is a night game. That's hardly worthy of adding them to the SEC.
Pardon me for taking a bit of a victory lap here, but I did cite those reasons for not wanting VT back when Beamer was there and they were at the height of their success. It's kind of the same reason I'm not enamored with Clemson. Recent success should only be a factor, and a lesser one at that.
It's about demographics, the support base that's been built up over generations and so on. VT and Clemson have value most assuredly, but just less value than a casual observer might assume.