Well, there's a lot more we as lay people don't know re research funding than we do know.Oh, I must be ignorant, too. Please enlighten me on what research funding is tied to their athletic conference affiliation that they would be walking away from.
You would think Texas would have joined the Big Ten years ago to get a slice of the pie. The academia there probably spend too much time reading southern bloggers.
That being said, here's what can be found easily:
$10 billion/year is by far the most in the country
Note on that 2nd link what other two academic systems are listed and who isn't.
So, both Michigan & Ohio State would be walking away from the research funding structure provided by the B1G Academic Alliance. Yes, they could pursue research funding independently (and may well do some of that now). But I don't see the SEC being of much help in that area.