I feel like, for football, a 16-team conference is going to set up in four four-team pods, based mainly on geography, with protected rivalries. If Kansas and Missouri joined:
Pod 1: Minnesota, Wisconsin, Iowa, Northwestern
Pod 2: Nebraska, Kansas, Missouri, Illinois
Pod 3: Michigan, Michigan State, Indiana, Purdue
Pod 4: Ohio State, Penn State, Rutgers, Maryland
Then you protect crossovers like Iowa-Nebraska, Northwestern-Illinois, Ohio State-Michigan. If this were all about money, I'd think they might even look into doing a mini playoff of sorts, where the top teams from each pod square off in the final week of the regular season to determine who plays in the B1G championship game.