Say what???
First, I presume your "elephant in the room" refers to the basketball program, and not the football program. If so, you are dead wrong. UConn BB joining any conference is a financial gain for that conference through significantly increased TV revenue.
However, if your elephant is football, it is highly likely that TV revenue sharing amongst conference schools is the issue at hand. In that case, the northeast market for the ACC is limited to Boston College and to a lesser extent Syracuse. For the Big Ten, sharing the northeast market might impact Rutgers, with Penn State and Maryland having lesser impacts.
The densely populated TV market in the northeast is ripe for another school. I would defer to the TV sports marketing gurus, but to me UConn seems to be the best option for rapid, near-term TV market growth. Even more so when you can leverage the exposure of UConn basketball and their other sport successes with a rising football program. IMO, it is a marketing dream.
If I was in the UConn AD department, I would make it known to both the ACC and Big Ten that whoever makes a reasonable offer first wins the "Northeast TV market prize". You snooze, you lose.