To be perfectly honest this is a much better time to be indy than in the past. There are a lot of p-5 teams who will pay UConn a million for a bodybag game. Every p-5 is looking for home games so I expect there will be lots of options. Probably means only a few home games each season. The g-5 schools are exploiting this and as an indy you will have many options later in the season for an SEC payday.
In the end FCS is probably the destination as the bowl money distribution for a FBS indy is hardly going to justify the expense of the scholarships and coaches salaries. I suspect they will give this a try for a few years but the AAC is not going to be an option and the MAC is FCS level anyway so there really is not an option other than indy. Idaho went through this recently. On the bright side that would probably cut 20+ million from the AD budget.
In the end FCS is probably the destination as the bowl money distribution for a FBS indy is hardly going to justify the expense of the scholarships and coaches salaries. I suspect they will give this a try for a few years but the AAC is not going to be an option and the MAC is FCS level anyway so there really is not an option other than indy. Idaho went through this recently. On the bright side that would probably cut 20+ million from the AD budget.

