Negatives/problems/questions unanswered

While I think this is a phenomenal idea, the reality of it is that it'd be REALLY tough to make this happen, and it would cause some problems that would need to be solved too. I'm not naive enough to think this is a perfect design. Here are some problems that came to mind:

• Relegation's a bitch. It would create pressure on coaches and be tough for Athletic Departments, who rely heavily on football revenue to survive, to plan. Obviously, revenues would be much higher for the 1st tier teams than the 2nd tier.
• There would have to be some sort of financial "parachute" for teams that get relegated from the 1st tier for 1-3 years, to help them adjust. I know this happens in the English Premier League, I just don't know the specifics. Probably a good framework to use, though.
• There would need to be a common criteria for revenue sharing & distribution across all the conferences.
• Lost revenue of not having a 12th regular season game. It could happen, but this would lead to the national finalists playing 15 or 16 games. Realistically, if anything ever got to the point where this was the main pain point, I'd be ecstatic!
• Travel problems for teams & fans for teams going several rounds in the tournament. This doesn't exactly cause a problem for basketball though.
• Closed membership to Division 1 would be limited to 120 teams, though is this really a bad thing? I suppose there could be a way to accommodate D1-AA promotion or a playoff, but I have no idea if this would lead to scholarship or funding issues.
• There's inherent strength & weakness of conferences, but we have this today. At least a team could play up to a stronger league.
• The 2nd tier leagues would be giving up their autonomy
• Football leagues' memberships wouldn't match other sports.
• Potential academic ramifications of a change/loss of membership in certain leagues?? I have no idea here, but I know the Big 10, for example, fancies itself as a superior conference, academically.
• Non-conference scheduling problems not knowing which league a team would be in; might lead to the loss of some long-time non-conference rivalries.
• Might be tough to make happen, logistically, with contracts already signed for non-conference matchups well into the future. As with all contracts, though, these can likely be bought out or rescheduled.
• There would need to be a commissioner or someone in charge of the whole thing. This could be a high-up person in the NCAA
• Obviously, the biggest hurdle would be getting all the school ADs and Presidents, Conference Commissioners, Bowl representatives, TV people, and everyone else to agree to this.
• Notre Dame would have to play by the same rules as everybody else, and accept it's no different than any other football-powers-in-their-own-minds. I guess there's no reason they can't still have a TV contract though...