I would have a hard time seeing them not adding a team playing in the #20 tv market in the nation. Best believe that played a part in them wanting to add Davis to the MW.
It appears that many FBS athletic departments accrue annual deficits. Google says 80-90% of public universities whose books need to be “open”. NC State projects an $18M deficit. INC chapel hill had a $15M deficit in FY25. I not saying this is good but departments are scrambling to cover these with state and other university funds. Depending on the state some revenue may come from sports gambling revenue. Also concerts. And of course added student fees. It just seems like a keep up with the Jones’ situation and scrambling fiscally on the back end to try to meet expenses.