https://thecomeback.com/ncaa/worst-coll ... sions.html
2. Tulane leaves SEC
The problem with Ryan’s assertion that South Carolina leaving the ACC was the biggest mistake in conference changes is over the years is it’s not even the worst decision by a school to leave what would become a power conference. Tulane was a charter member of the SEC in 1933, but the school made the decision to leave the conference in 1964 because of a fundamental difference in opinion regarding scholarship limits. Tulane (and Georgia Tech, who joined the ACC) wanted scholarship restrictions to be limited to 140 between football and basketball, but the rest of the SEC was not willing to place a cap. With that being the case, Tulane took off for football independence until the formation of Conference USA in 1996.
Had Tulane stuck around and remained in the SEC, who knows where it would be today. Would Tulane be on the same level as LSU? The world may never know.