Assuming his math is close to complete and correct, Stewart Mandel at Sports Illustrated makes a pretty solid case against the Big Ten expansion...
First, I think the $22.6 million is a bit inflated. As he notes, the Big Ten doesn't have two BCS teams every year, just most every year, and that's not a given going forward.
With regard to the post season, what this really means is that the Big Ten is much more likely to fill the Motor City Bowl slot every year and maybe also spin off an at-large bowl eligible team to go somewhere else. So, maybe that's an extra $2 million if the Motor City Bowl ups the payout. The only clear winner is George Perles.
Second, he doesn't include the basketball math, which is admittedly much smaller. Still, it might add something to the discussion on the margin if the addition is a school like Syracuse.
But that aside, in sum he says there's only two options that balance the books:
1. Notre Dame, which is unlikely for their own reasons, and even if it were not, would they want in on an equal footing and be willing to share?
2. Nebraska. He pulls this weird idea out of "I don't know where." I think it even less likely than Notre Dame. Nebraska has actual rivalries and history to give up by leaving.
But even taking it seriously... Does the state of Nebraska have enough TV sets to cause networks to cough up bigger contracts? Sure, Nebraska is a national name. But a national name worth another $15 million all by itself?