Bingo. This is why I hope for a continued strong(er) ACC.
ACC is easily the best fit for GT.
B1G would be fine from an academic standpoint for the ACC, but it does not fit from a geographic standpoint and it does not fit from a school alumni perspective - with just a couple of exceptions B1G schools are the huge 'state' school with large enrollments and massive alumni bases. GT would be at a big disadvantage in that league as it would get the media rights contract (though maybe not immediately), but the additional revenue that these larger schools make would dwarf what GT makes.
SEC would be a geographic fit, but would not be an academic fit at all and once again you are talking about mostly large 'state' schools with larger alumni bases.
Fans worry about the media contracts, but that is not the primary driver between the haves and the have nots in college football. The primary driver is the other revenue sources. Ohio St AD mentioned they make over $100M in revenue from their home football games. That is as much as the total revenue GT makes.
If GT got a bid to the B1G and got a full share (remember for now OR and WA are only getting $30M - do you think GT would get more than that?) - it would get an additional $20M yr in revenue (last year ACC payouts were around $40M while B1G's were around $60M, SEC was around $50M), but it would now be competing in a league where the average revenue per school is so much higher - roughly $36M.
GT is currently 9th in ACC revenue ahead of NCST, Pitt, BC, Syracuse and Wake. It is roughly $10M below the league avg. If it moved to the current 14 team B1G and got the extra $20M it would be 11th out of 15 teams (ahead of MD, Rutgers, Northwestern and Purdue and basically equivalent with Minn) and be roughly $26M below the league avg. In the expanded B1G it would also be significantly behind OR. WA and USC in revenue, though it would be in roughly the same spot as UCLA. If GT got the same deal as WA and OR then it would likely be in the MD, Rutgers, UCLA grouping at the very bottom of the conference.
From a revenue standpoint moving from the ACC would put GT in a worse competitive revenue situation than it has in the ACC. You are no longer competing in a conference where the avg revenue is around $118M, you are now competing in a conference where the avg revenue is around $154M.
If you look at who would be in a 12 team CFP this season all 11 (excluding the G5 bid) are among the schools with the 28 largest revenues in the country (Missouri is #28) and the Top 5 in revenue would all be in. 10 of the 11 would be in the Top 25. 6 of the Top 10 would get bids and 2 of the 4 others in the Top 10 would be among the first 3 out.
Even if GT got B1G money it would still be $20M below the Top 25 in revenue.