What makes you say that? What makes you confident that we will have another opportunity to become a "P5" institution? I'm not sure that there's another offer out there. (And, to be clear, as things stand right now we don't have any offers.)
It shouldn't matter, but just being branded a "P5" school will change the perception in narrative surrounding us. That alone, independent of the enormous benefit of potentially getting 50 million a year in conference distributions, has tremendous value to us.
The Big 12 interest in Connecticut is well known now. If there really is another P5 conference interested in us, now is the time for them to make that clear. If we find ourselves in a situation where we have one, and only one P5 offer, we take it.