5 years ago, guarantee games were routinely in the $550k to $700k range for lower tier schools like Delaware State, Western Kentucky, and Montana State, and Charleston Southern, and $1 million for schools like Navy (
http://usatoday30.usatoday.com/sports/college/football/2009-09-02-smallschool_payoffs_N.htm). Payouts have inflated significantly since along with the rise in TV rights. In 2012 UMass -- UMass! -- which was not even bowl eligible yet during its upgrade from FCS, got over $1 mn each for two one-off guarantee games (
http://www.masslive.com/umassfootball/index.ssf/2012/04/umass_football_in_line_for_mor.html). UConn is worth significantly more, and here time is very short, there are few options for Alabama (or UConn for the other half of the deal), so this particular deal will command a premium. But, if my numbers were off, then just scale everything down. The point is that UConn can get more from Alabama than it would cost to buy a home opponent. Buy UMass for $1 mn and get $1.5 mn from Alabama. We make a profit and have the same number of home games.
Re TV rights, maybe Alabama has sold all their OOC home games even before scheduling them. If so, this proposal wouldn't work, at least not with the terms I outlined, unless ESPN and CBS agreed. But I haven't seen any stories stating that that is the case; and that is not the normal way TV contracts work. Usually networks find out what the matchup is before buying rights. Maybe in the conference network era things are changing.
Regardless, you are rude and present no evidence for your assertions, which are essentially wrong. In business, there is always a way to get a deal done, if it makes sense.
My proposal does make sense, because college football is splitting into tiers, with bigger gaps between the tiers. Instead of home-and-homes (which are relationships of equals), we will see more guarantee games so that top-tier schools can get their $3-5 mn per home game ($20-40 mn per 8 game home schedule) from the networks, and they can afford to buy schools at the G5 level now with that money. In turn G5 schools with revenue picked up from guarantee games can buy guarantee games from lower-level FCS or G5 schools. I predict you'll see a lot of these deals going forward. UConn might as well get it started. At least it has a chance to get on national TV playing Alabama, and maybe pull off an upset.