The power conferences want autonomy and they want it now. This has been known for quite some time. But yesterday, it appears Mike Slive has introduced a nuclear option in case his demands aren't met.
From The Atlanta Constitution-Journal:
He warned that the SEC would be prepared to pull out of NCAA Division I and form a new NCAA division if the five power conferences don’t receive autonomy to set their own rules on certain matters, including benefits for athletes.
The threat seemed to be aimed at the Division I board of directors, which is scheduled to vote in August on an autonomy plan for the 65 schools of the SEC, ACC, Big Ten, Big 12 and Pac-12.
“If it doesn’t pass, the next move would be to go to a ‘Division 4,’” Slive said. “It’s not something we want to do.”
The move to Division III, where football is still profitable despite nobody watching it, has long been a threat by other commissioners. (I consider it to be only saber-rattling.)
It's a wonder what would happen in this newly created Division IV, but it would be humorous if Slive took the entire SEC there and nobody followed. It would likely result in martial law being declared in Alabama.