Partner I don't know what you are tokin' today, but pass it left...
If Kent State or EMU, in the hypothetical world we are describing, were to drop to 1-AA in football they would not stay in the MAC in basketball.
1. The MAC would not allow a basketball only member.
2. The reason for leaving the MAC would be that football is losing money (IE there are no benefits to staying in the MAC for football)
3. They could join a litany of other conferences, the OVC, the Patriot League, the NEC, etc. for both sports and potentially save money on football and potentially make just as much, or more, on basketball by continuing their proud tradition of NCAA tourney appearances via an easier field of conference mates. (We can ignore the fact that Kent has made one NCAA tourney in the past decade in the MAC).