The way the colleges run things, and the explicit and overt things they've been saying, means that it's definitely going to happen. They will keep the huge bulk of that $1.1b for themselves. They will only pay for their own championship in Olympic sports. And they'll tell the D2 and D3 schools to fund their own championships, preferably regional, if they want championships at all.
When the value of basketball schools goes up, conferences will want the strongest basketball schools in their conference simply because the payouts for tourney credits will be so huge. So let's say the payout is $1b. That means each tourney credit is equivalent to $15m. UConn's run last year would've been equal to $75m for whatever conference they join. UConn makes an Elite 8 run once every 3 years, which is worth $45m. 6x out of 24 they've made the F4, which is worth $75m. Say they win 1 tourney game in all the other years. That's 15m x 22. UConn would've brought in just over $1b in the last 33 years if the future structure had been in place. An average of $30m a year. Combine that with UConn's TV value for both men's and women's bball, which could be $20m, and UConn is then a $50m property not even counting football.
This presupposes that UConn is going to have another great 33 year run in the future, which is impossible. So plan for 2/3rds of that value instead.