OSU is far and away the most valuable team in the conference. Yet they are getting the same as everyone else. And there are means within the same conference structure, through pushing unequal revenue sharing, to get more of that value. That's exactly the definition of leaving money on the table.
What would a conference with 14 Ohio State-level schools be worth compared to the current Big 10? It's hard to even do a comparison because they are a top 3 TV product, if not #1, so you can't really even do a hypothetical conference with real teams.
Looked at another way, what percent of the value of the next TV contract do you think Ohio State is responsible for. Personally I think this is understating OSU's value, but let's say it is as shown below, that would suggest OSU's media value is over 3x the per team average. Now I don't think they would ever try to go for that, but there are tens of millions of dollars in real estate between that value they bring to the conference media contract vs. what they receive. Or simply put, if OSU is responsible for 20% of the media dollars, and the per team average is $80m, they are worth $256m.
Ohio State: 20%
Michigan: 15%
USC: 10%
PSU: 10%
Wisconsin: 7%
MSU: 7%
Nebraska: 6%
UCLA: 6%
Iowa: 5%
Minn: 2%
Illinois: 2%
Rutgers: 2%
Maryland: 2%
Purdue: 2%
NW: 2%
Indiana: 2%
So I think OSU asking for say 1.5 times the average is not unreasonable at all. That's saying they are worth a little more than 9% of the TV media value. You really think if they decided to push this they couldn't get that done?