Would they move back to FCS football if that's the case?
It's highly likely they're going to be the worst team in all of FBS this year, so it's not some huge loss.
Realistically, I see three options for them:
1. Go independent (with the help of FS1)
2. Ask the MAC or Sunbelt or some lower league to be football only
3. Drop down to FCS.
On another note, to say this is a huge coup for the Big East conference is an understatement.
1. You add a national brand of basketball with a top flight coach on the rise
2. You re add a team with history and established rivals.
3. You steal a university from a “peer” conference, the AAC, which elevates you further above that conference.
4. You add the nearby UConn fan base to MSG, furthering attendance which is already at almost sold out capacity annually.
5. The FS1 contract remains intact which had an escalator to ensure adding an 11th (or 12th) member kept everyone making $5M annually.
6. You get to keep the round robin schedule, going to 20 games like the ACC and Big Ten.