I think if they were smart, they would build on college football
the built in fan base is there, and the February-May period is there for US fans before NBA playoffs/MLB and for some NHL playoffs get going
But why not have a team in Florida with players that went to the Florida Schools, same with California (maybe even Southern Cal and Northern Cal) , or Oregon/Washington/Boise and call it the PNW team, Texas, Arizona etc.
do 8 teams that way, have these NCAA former stars still representing the people that cheered for them. There will be plenty of known guys for people that watch NCAA football, which is a huge audience
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