First, you speak of football 'revenue' which would be all revenue (ticket sales, concessions, tv money, etc). Then, you try to compare it to MWC tv money only.
Second, you're failing to realize that much of that new found revenue will need to be used on upgrading and creating facilities for other athletic teams. Currently, you don't even have some teams in some of the pac12 sponsored sports.
Third, you're assuming that your ticket sales won't go down which is not a safe assumption if you continue to finish in the lower end of the conference standings and miss bowl games.