This paper analyzes different issues within collegiate athletics. Further, it provides a roadmap for how leaders in collegiate athletics can better make decisions involving conference membership and media rights decisions that directly serve the interests of student-athletes, the athletic department, and the entire university community. Relevant literature is addressed in the literature review section regarding the financial components of college athletics and how conference realignment impacts different financial elements of the athletic department and university. Also, the literature review section focuses on how conference realignment decisions impact rivalries. The last part of the literature review focuses on a more contemporary analysis involving conference realignment and how changing some of the financial structures within college athletics would result in a more equitable and fair landscape regarding gender equity. Using data from the Knight-Newhouse College Athletics Database, financial data related to Texas A&M University, the University of Nebraska-Lincoln, and the University of Maryland-College Park were analyzed to determine how these three institutions were affected by their decisions to change conferences within the Power V. Each of these institutions athletic departments finances, including specific revenue and expense categories, were affected differently by their decision to change conferences, but this data can serve as an important indicator for how universities that are currently choosing to change conferences will be affected. Then the next portion of this paper involved primary data collection, where the sample consisted of Arizona State University Introduction to Marketing students. This survey focused on measuring the opinions of college sports fans regarding various issues and topics related to college athletics, including the role of college athletics within the university, conference realignment, the importance of rivalries, and media rights. Lastly, this paper includes an analysis and comparison of survey data from the University of California Office of the President, where UCLA student-athletes comprised the survey population. This survey focused on UCLA student-athletes’ opinions regarding UCLA’s decision to join the Big Ten conference.