So looking at it, I see the following benefits:
1. Build rivalries with teams, play in conference championship games
2. Get more viewers, better exposure (partly as a result of point 1)
3. Get more money (partly as a result of point 2)
4. Better access to NY6
5. Stronger positioning for potential P5 expansion
Drawbacks are:
1. Less flexibility in scheduling games (though we'd still have multiple OOC games free)
2. Inclusion in a G5 conference
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Notes:
B2: UCF, Cincy, Memphis have all drawn more viewers than BYU over the past 4 seasons. This is factual, based on data, not an opinion of any kind.
B3: Data indicates BYU gets about 4.5M/yr from ESPN, which is in line with earlier published reports of ~$1M/home game. Even with a great home schedule in 2019, ESPN only got the following games from BYU - Utah, Washington, Boise St, Liberty, Idaho St. The AAC just signed a deal with ESPN that is reported at $7M/team per year
B4: if Boise, BYU, UCF, Cincy, Houston/Memphis, and 'other' alternated showings, we'd play there every 6 years!
B5: If the Big 12 ever expands, it becomes really hard to take a Cincy or a Memphis over a team that is repeatedly beating them in conference