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I think UConn would be a great addition and a hedge against the ESPN-led hegemony to declare MSG as its sovereign territory.
However, I think UConn senior administrators were hesitant to walk away from the AAC money while Big East officials were suspicious that UConn would still jump at the next offer that came down the road. How loyal would Storrs be to the Big East if the Big 12 called tomorrow?
As a result, the ESPN/ACC has UConn where they want them so there is no need to add a school right now, and programs will suffer as a result.
As to the post above asking why Georgetown and Villanova have women's rowing, these are the only two Big East schools along or adjacent to a major river where rowing programs typically flourish and there were insufficient BE schools with a program. Georgetown and Villanova have men's rowing but it is not an NCAA sport.
You are right in that ESPN and the ACC are coming after MSG hard. Look for them to secure MSG in 2016 a year before the NBE deal is up. Losing MSG will be problematic for the NBE and take them down a notch in terms of national prominence.