Note: I realize absolutely none of this has a snowball's chance in hell of happening. You don't get brownie points for feasibility comments.
In light of the fact that tonight in SEC basketball 'Bama needed double overtime to beat Alabama-Huntsville, Auburn lost to Columbus State, and Tennessee lost to Indianapolis, how about we just contract the SEC? Now maybe you can keep men's basketball as a sport -- though if not, whatever, Auburn can just give that new arena to Cam Newton as an inducement to come back as a senior -- just because it makes some money, but nevertheless... contraction.
Here's my idea...
Tell Kentucky it's been fun and give them the business card of the Big East commissioner. Likewise, tell Vandy no one really gives two shits about SEC academics anyway and that whatever contribution they make to the conference via academic reputation and overall integrity far gets outweighed by that massive bowl payout check they get to cash every year for not doing a damn thing but showing up and getting spanked eight times a year.
Now obviously that won't go over well with those two. Being a basketball school in a football conference has to be the sweetest gig on the planet, and Vandy needs the big payday. Nevertheless, play that damn Green Day song and wave goodbye.
From there, you've got a ten team league. Go the round-robin format of the Pac-10 the past few years and have every team play every other team every year in football. You get games like 'Bama v. Georgia, 'Bama v. Florida, LSU v. Georgia, Auburn v. Tennessee each and every year. And if you still want to do the championship game in Atlanta, then fine, more football is never a bad idea.