A better parallel is NCAA basketball in terms of what the football owners were trying to do -- take a merit-based championship based on local micro-league performance and restrict it to the "big" schools.
Imagine if Duke, North Carolina, Villanova, Michigan, UCLA, Kansas, Kentucky, et al got together and said they automatically made into the NCAAs regardless of how they performed in the ACC or whatever, or the conference tournament. Actually, imagine if 48 (3/4 of 64) teams did it (pretend the play in games don't exist).
There would be fucking riots at college campuses all over the nation. Sports talk would go berserk. Knowing America, there would probably be shootings. It would never stand and every single American sports fan would talk of nothing else and wonder in amazement at the incredible stupidity of the universities.