The last time something like this was tried it was before it's time (WAC)
Big East did this for decades til the ACC came in and poached all of it's football members
This could really work, Gonzaga and another school (creighton?) could be the guinea pigs for a couple of seasons. ESPN owns majority of the inventory.. If the ratings remain high, I can't see FOX not liking it either.. and will probably give some form of bump for basketball expansion only.
for now, 2 divisions. Divisions play home and home games for a total of 12 games. Then they play one game vs the other division, 6 games.. for a total of 18 conference games. They can figure out if they decide to rotate the championship game or just keep it in Kansas City
Plus the beauty of bringing schools who just have a basketball programs.. you won't have all the animosity that football brings. Sure Zags won't be getting the 50 mil KU is getting from the conference.. probably more like 12 a year, but they still will get every bit of exposure KU gets nationally which helps with the real revenue generator, donations.