UConn is a very desirable program. It has a great 20 year history of powerhouse hoops. It has a football team that moved up from FCS that is currently struggling but has interesting potential. UConn deserved a P5 invite 5 years ago based on the quality of UConn Basketball and Football at the time, but did not get it.
UConn's premier sport is Basketball in a CR world that values Football. CR and revenue are driven ~80% by Football.
Of course if you get a P5 invite you take the money. My question is what do you do until then, or if that doesn't happen. Is the AAC as your status quo the best spot for you? Or is the Big East?
The AAC is a conference of desperation. It is scattered and does not have true rivalries for UConn.
Every football program in the AAC, except UConn, is a former C-USA program. So they have history, but it's not your history.
One hope is that the AAC becomes a "Power 6" in football. The AAC did not have any programs that ended up Top 25 last year (reference Sagarin). A Power Conference just doesn't do that. The AAC is a high G5, but it is not a P6.
In hoops, the Big East is a Top 3 conference. So there is a Power 6 in Basketball, but the AAC is not part of it. The AAC and the A10 are the next level down.
Here is the TV money annually per school, with the 80/20 rule applied:
If UConn gets a P5 invite, God bless you. I think you deserve it. Of course you take it.
If you don't, maybe a Big East Top 3 conference for your basketball-first program is a good fit with historical regional rivalries and a conference home at MSG. Football-only in the AAC, or Independent if the AAC doesn't allow it, are not crazy alternatives if you look at your current deal.
Imo, AAC Football becomes more interesting and valuable if it is 2 regional divisions with geographic rivals within the divisions. Play within your regional division, and then have a conference championship. \
My bias is Nova and the Big East. UConn makes a good Big East conference even better.
The Big East would be a good fit not only for your hoops but for all your non-rev sports.
My perspective is that there are a lot of boneyarders that are very frustrated that the Big East would want them because they think they are P5 worthy and above a conference affiliation that doesn't sponsor football. I get that, but I think it is ignoring the reality of your AAC status quo.