I think it's more likely that SKY will re-negotiate if rangers are no longer an SPL club.
That would lead to a reduction in the overall money the SPL get, but possibly not by a huge amount.
Here's the thing that nobody seems to have talked about....
At present the old firm get the majority of the TV money.
If rangers are no longer in the other SPL clubs can vote to change the idtiotic 11-1 vote. They get rid of that and then they can change the way the TV money is distributed to a fairer way amongst all 12 clubs.
That way, wouldn't the hit amongst the other 10 clubs possibly not be as bad? After all currently the old firm take the majority of the cash. Change the distribution of the cash and our % of cash of a renogotiated TV deal might not be as bad.
Pure speculation i admit, and i agree that it's right to wait until all the juggling balls have landed, but maybe things won't be as bad if rangers get (rightly) voted out....