I haven't read about a g league, but if that is the direction CFB is trending, I can tell you that this will be a classic example of so many bad business decisions (and the worst) that I have consulted people not to make.
Too often hires and fires are based on affinity or lack thereof, and too often business strategy based on ideas as opposed to data. I can't tell you how many businesses have seen exponential growth by following my research, data-based strategies while those who chose to go in another direction either failed or returned to the strategy I put in place.
That said, viewership is what drives revenue in sports through tickets and media. Without it, stadiums are empty and media outlets starve, because their advertisers also lose their audiences.
Right now what drives viewership in college sports is the school brand. Some of which have been around over a century.. Those who are loyal to these brands If it were solely about the sport, then the majority of people would watch every team as much as they watch their own.
So, a g league would be most likely trying to pull from both NFL and CFB audiences, initially, while trying to create a league and brands to rival brands and a league that took over a century to build the value it has to its advertisers in the form of audiences to advertise to. Not to mention, these teams would not even have their own stadiums which would cost small fortunes to build.
The only things such a move will accomplish is complete failure and damage to CFB. It would take billions of dollars and years to rectify a league that would rival CFB even IF it were ever to get there, and I just don't think it ever would. The move would also cost those who shifted their interest from CFB to Gleague incremental amounts of money.
You simply won't have people watching the sport anymore that care more about their brand than the sport itself.
Not only that, the coaches and players of both leagues will end up making crumbs, because what audiences are left will be smaller and therefore advertising dollars will be lesser.
I could go on and on, but I will leave it with this. Such a move would be asinine at best. It's basic math... And no ESPN will not be able to help juice the sport. It has had enough power to lobby for Woodson to win the Heisman over Manning, but let's face it. CFB and NFL made ESPN as much as ESPN helped expand CFB and the NFL.
This isn't apples to apples, this is a raisin to a watermelon.
College
football we know is done. $$$$ makers are gonna get their way. There may come a day though, young athletes will have to decide to either join the g-league out of high school or go get a college education. I would much rather watch a group of young athletes compete for their school, with a free education, boarding, and nourishment, even though they are of less talent, then the so called future g-league player out of high school and his/hers family thinks. And maybe once a young athlete makes that decision, that's it. He ain't running back to college. Period. Nadda. First it was baseball, then basketball, now football. Go ahead and start g-league football with all the dam sponsors you want. I won't be watching. Never thought it would come to this, but after 50 years as a True VOL Fan,,, I'm out. 
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