TL;DR: Football only, 7 permanent conferences of 10, one more with pro/rel, 16-team playoff with objective criteria, centralized media negotiation, NOT fully equal revenue among schools, private equity definitely involved, ESPN/FOX very much not on board for now, SEC/B1G also wary.

Basically, it looks like the “power” schools outside the Super-2 trying to shift the narrative, and providing a fallback plan for if the existing financial structure gets nuked from judicial orbit.