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If you believe this maneuver would work then you believe that ESPN would never leave the leave the state of Connecticut, and as Frankthetank has mentioned previously ESPN's profits equal EVERYTHING else that Disney owns. How much does ESPN get in tax breaks? 60 million dollars? ESPN would either threaten to leave the state of Connecticut over a gradual withdrawal if they were losing money or offer to go to another state.
I understand you think ESPN could tell another conference to invite UConn, but as Frankthetank mentioned it would have drastic circumstances to ESPN's shareholders. ESPN can have their cake and eat it as well. ESPN loves being in Bristol and loves the tax breaks, but the company would be profitable anywhere, and while ESPN wouldn't want to lose the tax breaks I am sure they would find other ways to generate the revenue they would lose in tax breaks by asking for more money from cable carriers to carry ESPN, ESPN2, ESPNU, or other ways.
Please reread fishy's post. Don't you see how foolish it is to suggest that Espn would move out of the state. They are in it for billions. And their entire production staff is settled here. It would take them decades to leave.