Like I said in the basketball thread. College football and basketball are just tv properties now.
It's why when the Adidas scandal broke, Kansas = no tourney ban; Louisville = no tourney ban; Arizona = no tourney ban. Oklahoma State = tourney ban
The NCAA might come back after the fact and make Michigan take down some banners, or Harbaugh forfeit some wins. But do you honestly think ESPN paid all this money for the CFP to see Michigan be banned from it?
Hell no. I can say with 99% certainty that whatever comes from this, Michigan will not be punished in any way that hurts the tv networks