The NBE schools not getting any of the leftover tournament money makes them, I think, even more likely to trade the Big East name to the C-7 for cash. But I see a three-way deal being worked, possibly after the NBE schools get full voting rights and UConn, Cincy and USF can't block changes to the bylaws if the C-7 and NBE school agree--or maybe just as soon as the NBE picks and market-tests their new name.

New Big East issues: $2.5M entry fee
Old Big East issues: $10M exit fee, 27 month waiting period
C-7 issues: We want the name.

C-7 bargaining chips.
1. 50% (70%?) claim on Realignment Fund (~$50M exit fees, $17.5M entry fees)
2. 70% claim on NCAA credits from schools who withdrew from Big East. (~$50M).

What it looks like, if the NBE keeps the name, and the C-7 gets nothing for it:
Tournament credits: $5M per school for 10 schools. NBE noobs get $0.
Realignment fund: About $35M each for the C-7 and NBE.

So the deal:
1. C-7 drops any and all claims on Realignment Reserve Fund. (Cash value, $25M in exit fees plus ½ of $17.5M in entry fees)
2. C-7 takes the Big East name. NBE debuts their new name. (Probably want to avoid using Times Square banners.)
3. NBE waives claim to entry fees from entering schools. ($17.5M.)
4. Exit fee is reduced to $0 if school provides 12 months notice. Otherwise $10M. (At this point, it would be hard for the NBE to prove $10M in damages from anyone leaving with reasonable notice.)
5. NBE pays out Realignment Reserve Fund @ $5M per year for 10 years, $500,000 per school, starting June 2015. (Not really part of the deal.)

As it is now, UConn is looking at $5M in tournament credits, $3.5M in Realignment fund money. With the new deal, UConn is looking at $5M in tournament credits, $5M in Realignment fund money if they stay 10 years. If not, they save $10M on exit fee.

As it is now, Memphis is looking at $3.5M in Realignment Fund money, minus $2.5M entry fee, $1M. Plus about $1M each if UConn, Cincy leave ($10M/10 schools). With the new deal, Memphis is looking at $5M in Realignment Fund money.

As it is now, the C-7 schools are walking off with $35M in tournament credits (7/10) and $35M in Realignment Fund money (1/2). With the new deal, the C-7 are walking off with $35M in tournament credits plus the name. We give up $35M in Realignment fund money, but about $10M of that would be a real challenge to collect if the NBE votes to waive their entry fees. So that’s about $25M in real money for the name.