You can't negotiate with these folks from a position of fear. Give an inch and they'll take a mile.
Besides, the outcome you fear is inevitable, anyway. The NCAA - and by extension, the NCAA Tournament - is on borrowed time, and whatever replaces it will almost certainly be controlled by the P2.
But that doesn't mean they have all the leverage. This isn't football, where you can simply consolidate the sports' biggest brands into two leagues and start printing money like you're the NFL. In CBB, the uncertainty and randomness is what drives the intrigue. People genuinely do not want to see the 10th or 11th place SEC team in the dance. That's what the people in our league office need to be reminding them of as opposed to kissing their ass out of fear of being left out.