From what i understand about the alliance, i figure there are a few points that they are going to work on
1. Figure out what is the best setup for the playoffs from the Alliance's perspective
2. Set out the rules for the Autonomous 5 conferences
3. Create more attractive matchups for Football and Basketball
4. This is a longer term goal but there initiator behind the alliance is the Pac-12 commissioner George Kliavkoff. He has experience with gambling (MGM) and Internet Streaming (Comcast Hulu).

First the gambling angle. I will post the title from an article from the Wall Street Journal. Out of respect for the Wall Street Journal, I will not post the article as it is for subscribers only.

ESPN Explores Sports-Betting Deal Worth at Least $3 Billion
Sports-media giant has held talks to license its brand to sportsbooks including Caesars Entertainment and DraftKings

The article outlines that ESPN is just going to be providing its name for branding purposes. There is going to be an opportunity for all of the conferences to gather up statistics and data and sell it to the various sports books. Sports gambling is taking off around the world and you would be surprised at the various statistics and data that gamblers want to look at. This is an opportunity for all of alliance to gain extra revenue by selling it to the sports books but this is going to be a bit of work on the technology side to gather. The alliance can pool their technology staff and save on that part of gathering the data and storing it in databases and then manipulating the data and presenting it to the sports books.

5. Longer term after the Pac-12 and Big Ten TV contracts are signed, it will clear the way for a basketball super league to be created and sell it to the rest of the world via internet streaming. The Pac-12 commissioner specializes in internet streaming as he has a background at Comcast with Hulu. The profits that these internet streaming companies Disney, Netflix, Apple, Amazon, Comcast (Peacock), Viacom (Paramount+) are huge and growing because they are selling to a worldwide audience a subscription model. The market for the best US college basketball would probably be pretty high around the world seeing as though basketball is the 2nd most popular sport in the world.

6. Pool your technology staff on any other initiatives that you might want to do. For example perhaps the alliance decides that they want to create an App on Android and Apple. Why not share the staff and do the app and just change the wrapper for the various conferences (Pac-12, Big Ten, ACC). Lots of opportunities to share resources.