Do you have insider information that this is what happened? Because my opinion is that UConn would take it.
I hear things. And look, from my POV, what I have heard fits well with what the public has seen. UConn has support within the ACC, but does not have all the votes and the offer is just a few notches above the SMU deal. This is a state institution. Coming into the ACC to have all your economics doled out to FSU/Clemson for a seat at the table is not easy to accept. Moreover, it means real deficits for a decade ahead for the seat.
On the B12, we had the slot during the P12 meltdown, but then it was lost to AZ/AZ st/Utah decision. Were we used by the B12 to unlock the four P12 schools? -IDK. I think it was a bit of both, get the four P12 schools or get UConn/Colorado and if UConn's feelings are hurt in the process - oh well. That said, the recent talks have been all about an SMU type offer from the B12 and from what I hear this administration is not really interested. This is why conversations ended abruptly last September - remember that?
Might be acceptable to take a super low dough deal from the ACC because you cozy the school up with UNC, Duke, UVA and other peers UConn would love to have. Its harder to take that deal from the B12 when you have even more travel and limited academic prestige gain to boot (yes these are still universities here- not pro leagues).
Its easy to sit here a say the state should accept anything it can get. The problem is the discussions have been terribly one sided. Both the ACC and B12 have given us serious considerations, but only under economics that are akin to the SMU deal. The SMU deal is a large political football in this smallish state. If accepted, the Gov will need to sell it as there will be questions.
Btw, from what I hear, both offers would allow us to retain post season financial gains on even footing. Its the regular season (base media contracts) where we get virtually nothing.