I heard they would forego TV money until a new deal is signed, but that would be only 1 year as the current deal is about to expire. Also, I'm not sure how the CFP pool money would be split. Also, it's probably not cheap to fly ~100 people to Sacramento and put them up in a hotel. $1 million could disappear rather quickly. Perhaps after 3-4 trips.
I'll withhold judgement until I actually see the terms.