IIRC, the last time we did it, Shalala and Dee thought it was more important to get a guaranteed amount than to be compensated based on performance. With the Big East Deal, we received the majority of any bowl money or network earnings. With the ACC, a much larger portion went into the ACC pot which was evenly distributed to all member schools. That included basketball tournament money.
In the Big East, if we didn't get in a New Year's bowl, there was a financially lean year. Not so with the ACC, we made the same regardless. The ACC insulated us from sucking. Once that was secured, the admin got lazy.
There was no saving the Big East, it was then and always will be a basketball conference. When Penn State went Big 10, BC, Pitt, and Syracuse threatened to leave the Big East because they realized they couldn't survive as independents. Bringing us in (along with others), was a last-ditch effort to cobble together a football conference preventing the inevitable collapse. Given the current developments, I shudder what to think if UM remained there.