To paraphrase Otter in Animal House, and to some degree, "NelsonMuntz is right. Psychotic, but absolutely right."
This isn't about bringing a lawsuit, but I can tell you how I would play it. I would be exploring three things. (And I do say exploring because, based on Aresco's omission of UConn the other day, I am not sure that the STate and University still don't know things that we don't):
1. There is one -- one -- women's athletic program, pro or college, in the entire United States of America that young girls all over the country look at and aspire to. And it is being shut out of the big time for reasons having nothing to do with women's sports and everything to do with football. I would be asking every female U.S. Senator and Congressman, and I would be asking the justice department and white house, how that can possibly be o.k. under Title IX. How Title IX can be limited to funding, but can have no rule over broader actions that universities are taking that are telling female athletes that you don't matter -- you are only around for the ride because you have to be.
2. I would now be looking at if not suing ESPN at least stopping their state subsidies. I doubt they did anything wrong this go round (having been more careful), but we sue them for breach of implied covenants of good faith and fair dealing both in their contract with the Big East and their corporate welfare contract with the State based on last year's round. Just DeFillipo's prior statements get us to a jury on that one.
3. It is time to call antitrust counsel. Antitrust laws are very complex and I am not an expert, but someone here illustrated that since '04 exactly one school that was playing BCS level football has now been pushed out. That would seem from a distance to be such an easy case.