RE: If the P5 does secede from the NCAA a better question is
For basketball, assuming no power conference would eliminate or remove members, you'd have the ACC (15), Big 12 (10), Big East (11), Big Ten (14), PAC (12) and SEC (14), for sure. However, to create a, in essence, modified/elite D1 (NCAA Division 1, Class A), you'd also most likely bring along the American (11), A10 (14), MWC (11), MVC (10) and WCC (10). This would bring you to 132 total teams, meaning just under half of a new coalition would make the tournament. This would, essentially, eliminate the bottom one-bid leagues from "taking" a guaranteed spot in an elite tournament, but also allow for enough "Cinderella-style" programs to keep casual interest and fan viewership during March. The other possibility from this style could be the elimination of the 20-game conference scheduling trend, as power conference teams would likely not want to be penalized playing more conference games (likely leading to potentially more losses) and not getting into the tournament; this would lead to more OOC opportunities for the AAC, A10, MWC, MVC and WCC to help build resumes.
The rest of the conferences, in basketball, would be NCAA Division 1, Class B (own tournament, etc.).
For Football, this would just be the P5 (+ ND); the G5 would be NCAA Division 1, Class B (own playoff, etc.).
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