My guess is that's still evolving. Seems like this was put together pretty quickly as somewhat of a panic to what the SEC is doing. I'm sure some of these major points are still in flux.
This sort of action has happened before (in sports entertainment) and ended in disaster. It will all come down to how unified the Pac-12, Big Ten, and ACC are. All it takes is one or two major schools to defect to the SEC and it all falls apart. Or, all it takes is for one conference to put tradition ahead of the others, and it will fall apart.
The Predecessor:
Pro Wrestling USA was a
professional wrestling promotion in the
United States of America in the mid-1980s. It was an attempt to unify various federations, including the
American Wrestling Association (AWA),
Jim Crockett Promotions and other members of the
National Wrestling Alliance (NWA), against the national expansion of the
World Wrestling Federation.
[1]
The Action
Jerry Lawler,
Jerry Jarrett of
Continental Wrestling Association,
Verne Gagne of the
AWA,
Ole Anderson of
Georgia Championship Wrestling,
Jim Crockett Promotions, and other NWA promoters got together to co-promote wrestling shows nationally. This joint venture became known as
Pro Wrestling USA.
This loose alliance of promoters from across America was to serve as a national federation. Pro Wrestling USA shows could boast, for example, an AWA and NWA World Title match on the same card.
While, at the behest of Jerry Lawler and Jerry Jarrett, the first show took place in
Memphis, Tennessee, Pro Wrestling USA shows were promoted across the member's territories. Further, many Pro Wrestling USA shows were taped in
East Rutherford, New Jersey, in the heart of the former WWF territory. This was a serious attempt to undermine the WWF, in its home turf, at a moment of financial weakness.
The Result
The arrangement, however, would only remain in existence for a few more months, as arguments between promoters, primarily Gagne and Crockett, severed the ties.