This is a desperate move by the Big East and a no-brainer for TCU. The fact is, TCU's program has only been "BCS" relevant for 3 years now (and one year during LdT's last year). If Patterson leaves and they can't fill those holes, or they have a few bad recruiting years, the Big East is stuck with a small private school in Texas with a small and dispersed alumni basis that is anything but fanatical. If TCU's football team doesn't continue to excel, then the Big East has essentially added Temple.
As for TCU, it gives them the opportunity for an AQ, more TV, better schedule for football and an opportunity to improve their moribund basketball program. The travel costs will take care of itself. But both sides better hope the football team stays relevant.