If we were going to join a non-P5 conference, it would probably be the AAC. However, when you look at our schedules beginning with about 2018 and onward, there's just no way an AAC schedule can compete with what we're starting to line up. The bowl situation is roughly a push - we play in crappy bowls and you play in crappy bowls (sometimes against each other). And the media money is likely a step down.
http://www.loyalcougars.com/future-football-schedules/
Distances become a problem for the non-football sports. Every WCC destination is about a 90 minute flight compared to some five-hour flights to many AAC destinations.