MSG will go wherever the money is, period. Unfortunately, that is with the ACC now. Billy Packer put it all in perspective, I'm paraphrasing but it went something along the lines of "the super conferences will eventually break from the NCAA not just for football but basketball as well, put on their own March Madness and control all elite recruits in both sports. The rest of the schools will just be playing intramurals."
If that happened, and I were the other schools, I'd pay my athletes and I'd give them a % of profits.
If the power conferences don't follow suit, it will level the field when it comes to recruiting. If they do follow suit it will wreck their profit models.
Even so, I still don't think they make the move and leave everyone else behind like that. Fans are fickle. There are a lot more fans that went to the schools they'd be sticking it to than those that went to their schools. If you lose them, and you will lose a LOT of them because they aren't part of the club, then your tv ratings won't live up to the contracts they currently have and they won't be renewed at those levels.
The trick here is for the football schools is to rig the game so all the TV money goes to them without alienating half the viewing public by coming across as greedy pigs.
They've got it figured out.
TV contracts with individual schools and conferences for football cuts the rest of the NCAA out of the loop.
National TV contract for college hoops.
If the 4 football conferences went with their own tournament, they'd end up going head to head with another hoops tournament. That's a battle they could lose and if that happened it could damage their brand.