What will happen?
At this point, it's easier to predict what won't happen. There is zero momentum to break from the NCAA and start a whole new organization. Whatever changes will be made will likely be under the NCAA's umbrella.
There's also little chance for significant change to the NCAA tournament. The one thing the NCAA does well is run championships, and unwinding the $10.8 billion CBS-Turner deal would be thorny.
The most likely change will be in the NCAA governance structure, and while that isn't particularly sexy, it's still significant.
How will things look?
This is impossible to answer right now. The Big 5 are likely to form a new tier -- perhaps Division 4 or a "super division" -- that creates an elite division of athletics still under the auspices of the NCAA. Think of a scenario where a total of 12 to 15 conferences -- about 150 schools -- end up in this new subset of Division I.
The key difference will be in governance structure and greater rule flexibility. The Big 5 want change so their ability to pass legislation, especially to provide more for their student athletes, isn't impeded by schools on radically different financial planes.
Think of a governance structure filled more with athletic directors and faculty instead of the current presidential-led Executive Committee. And the schools may end up with a structure similar fashion to the United Nations, where the "security counsel," namely the Big 5, have final veto power after hearing from all parties.
http://sportsillustrated.cnn.com/college...re-change/