I'll steal a post from a Houston guy on csnbbs who seems somewhat connected:
Aresco has achieved nothing in his tenure. Nothing! As a good friend of mine likes to say, Aresco has proven he is "all hat, no cattle." In the 30 years I have been in and around academia/university athletics, never, ever have I seen someone so completely and utterly out-maneuvered at every single turn.
I have absolutely no doubt ESPiN's hand is in this deal up to its elbow.
* FOX is overpaying the C7 for their basketball rights to offset the cost of buying the Big East name;
* ESPN, in turn, will agree to sublicense C7 basketball to offset some of FOX's costs;
* ESPN, in turn, will then turn around and sublicense early-season (insert new conference name here) home games against non-conference SEC, BIG, and ACC opponents to FOX-1, CBS Sports, etc. to offset its actual purchase of the media rights for the (insert new name here) football schools, and ESPN essentially pays nothing for the (insert new name here) media rights;
* FOX and others buy only the games they want from the (insert name here) football, with no loyalty to the (insert new conference name here) conference;
* ESPN and FOX cut NBC out as a significant competitor in college football/basketball for at least another 5-10 years; and
* ESPN will drop the media rights for the (insert new name conference here) in 7 years, or offer something in line with the MAC, Sunbelt, etc. on the pretext that the conference just doesn't have any national brand value.