I think once you create an environment of 4 conferences ONLY taking part in some high stakes game of cash grab, the government will get involved and figure out a way to even that playing field. It's an absurd cash grab where these colleges operate in a tax free environment.
Open your eyes to what's going on in the world politics wise. This will not go smoothly.
Politically, the only thing the conferences and networks would need to ensure is that the majority of states and population are covered. With NY, CA, FL, TX, MI, OH, PA, NC, VA, MD, NJ, MA, WV, OK, IA, MO, KA, AR, IL, UT, CO, IN, WI, MN, SC, GA, AL, MI, TN, KY, LA, WA, OR and AZ covered, a majority of Senators and Congressmen are in line. Small states simply lack power on this issue anyway (see NE states not named MA, AK, Hawaii, Wyoming, N & S Dakota, etc.) on top of lacking a majority. Sure, some politicos will make noise, but in the end, politicians will protect their own.
As to a potential issue with a monopoly, not really an issue. Whether a monopoly (MLB) or not (NFL, NBA, MHL), there is plenty of money to be made. Exercising a little control over the lofty salaries would do well to level the playing field among teams (and I generally don't want government oversight in my sports). If the schools would set some controls
AND enforce them, this would also go a long way to keep government watchdogs off their collective backs.
As to profits: Non-profits may use funds generating activities to support the overall mission of the entity. So long as no distributions are mode to owners there is no problem. Academic institutions' primary goal is education and raising money from athletics supports that goal (scholarships, some schools actually send money back to the university) then all is well. Even more so in a day when most State schools are losing funding and forced to be self supporting.
