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This only works if there is complete separation. No games against the schools with giant budgets. And players want to get paid; they sign a contract: no transfers.
If/when FSU leaves, the Seminoles and Clemson would likely be SEC-bound. UNC and UVA, which both have AAU accreditation, would join the Big Ten as basketball and academic fits. The Big 12 would likely try to poach Louisville, NC State, VA Tech, Pitt, and/or GA Tech.
There will be a big game of musical chairs played when the ACC crumbles, but unlike the Pac-12, there is a contingency plan to keep the ACC alive: Memphis, Tulane, Wazzu, Oregon State, UConn, and USF making the jump from the Group of Five ranks.
Enough ACC schools likely won't get invites to the other conferences since there's only so much revenue split current members will want to take part in, so with the Pac-2 schools and AAC programs making the jump, survival would be more than possible. The American would simply pluck programs from the Sun Belt and Conference USA, and those conferences would fold FCS schools that qualify for FBS membership into their ranks.
LINK: https://flywareagle.com/posts/acc-ensure-survival-having-at-least-15-schools-fsu-clemson-leave
The proposal in the article is not 1-A and 1-AA again with separate playoffs. The proposed 8 regional G5 conferences and their champions would simply play a Tourney at the end of the regular season to determine the G5 representative into the larger, National CFP.
I really don't know how they could do that many games. The G5 playoff would add 3 games beyond the regular 12 game season plus conference championship game = 16. Then the CFP could be another 3-4 games on top of all that =19-20 total games.
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