I don't think they would, and frankly, I don't even think that's the analysis. The commentary from A.D.s in the big 12 was, essentially, since you are not in the P4, you are not worthy of being in the P4. That's a tough mountain to climb, particularly since you can find data to back it up.
First off, you can say our revenue is well behind a P4 team and you'd be right. Of course, if we had the same media revenue and CFP money that P4 teams get, we'd be significantly above the median revenue in the P4.
You can also say that are ratings numbers for football are well below the average P4 numbers and again, you'd be right. But if you put our games on a more visible platform, our ratings would be stronger.
You can also know the huge amount of institutional support that the university has to invest in football to keep it viable. It is a big number, but, again, if we had P4 media revenue and a CFP share, that number drops 40 million, minimally.
How do we overcome that? I'm not sure if we can. Continued basketball success, of course, significantly helps, but probably the best thing we can do is schedule and comfortably defeat P4 teams.
I don't have a lot of hope that we can get into a P4 conference. It is very hard to overcome the argument that if "you're not in the club, you don't deserve to be in the club"