See the whole document here
Here are the key points (Ill dig more into this later)
The new "FBS Division" will include all FBS conferences. There are listed representatives from the AAC and the Sun Belt conference so it's a safe assumption all 10 FBS conferences are along for the ride.
The 10 FBS conferences are going to govern themselves within Division 1.
The Power 5 Conferences will have weighted votes within this structure
No Basketball only conferences are specifically listed but there is language which seems to be a door for high performers like the Big East
It clearly states there is no desire for just the Big 5 to breakaway as there wouldn't be enough teams to compete.
The NCAA tournament would not change.
(4) the FBS must be the master of its own fate, particularly with regard to matters of enhancement of the student-athlete experience that depend on increased revenue allocation
Division I/FBS combined championships rather than separate FBS championships
Third, because we believe that the Division I championship structure works well, we see no good reason to isolate FBS teams and conferences. (Moreover, although we have not examined competition numbers, we wonder whether some FBS-only championships would have a sufficient number of teams and student-athletes to warrant separate championships.