Did some research regarding what conferences are playing and what conferences are not...then looked at the states that comprise those conferences...then looked at who the Governors are. Here you go...draw your own conclusions.
SEC - 11 states represented. 9 Republican Governors, 2 Democrat. Playing football.
ACC - 9 states represented. 5 Republican Govs, 4 Democrat. Playing football.
B12 - 5 States represented. 4 Republican Govs, 1 Democrat. Playing football.
P12 - 6 states represented. 2 Republican Govs, 4 Democrat. Not playing football.
B10 - 11 states represented. 5 Republican Govs, 6 Democrat. Not playing football.