Like Deez said, it should get a lot clearer once we officially announce. We'll then see the CAA reaction, which is probably already prepared and just waiting for an official announcement but it is Joey and the CAA so who knows. Mettlen, Madia, etc will also then be able to ask Bourne about these things and get real answers.

Going by previous move ups it should go something like:

2021 football - Normal except possibly being declared ineligible for the CAA championship and autobid.
2021-22 other sports - CAA schedule but likely ineligible for CAA championships and autobids.
2022 football - Either a CAA schedule while ineligible for the championship and the playoffs or an FCS independent schedule while ineligible for the playoffs.
2022-23 other sports - The biggest question mark imo, it's likely we could be Sun Belt here. The other additions seem to be pushing for joining at this point(plus 2022 football) and if the CAA declares us ineligible for championships it's likely either way that the Sun Belt would try to make it work bringing us in at that point.
2023 football - Sun Belt play but ineligible for a bowl, though we could still end up getting one if not enough full FBS teams end up making a bowl.
2023-24 other sports - Will definitely be Sun Belt at this point.
2024 football - Full FBS member of the Sun Belt, eligible for bowls.


With covid and the extra scholarships, there might be hope that we could either transition more quickly or remain eligible for the playoffs next year. Like others have said, the only year I've seen it clearly laid out that going beyond the scholarship limit is allowed is this year. All athletes though, not just seniors, get an extra year of eligibility so maybe the limits don't go back in to effect yet either but I haven't seen that clearly stated officially. Sportswriters sure seem to talk as if the limits aren't coming back to normal that quickly. Either kind of exception for next year seems unlikely regardless, but there's definitely more of an argument to be made now that there ever has been any other time.

Edit: So with what JMU Rocks posted there, does seem clear that it's back to 85/63 next year which it seems like Sam Herder and others aren't aware of. That would definitely kill any hope of staying eligible for the playoffs, the only hope for anything out of the ordinary would be cutting out the transition year and joining Sun Belt football in 2022. That seems very unlikely imo but would be nice if we could pull that off.