I recall the story from Piv's book on Creighton basketball. According to Ras, both Ras and Dana would be fired (and Creighton moved down to D3) unless Dana won. The Athletic Department must have been losing a fortune then. Fr. Morrison was a fiscal conservative but I don't think the Board would have allowed that radical move at all.
Bottom line, without Dana Creighton basketball as we know it now would not exist. We would be stuck in the MVC and trying to stay ahead of Drake.