If anyone watched the UNC game on Comcast they did a good job of outlining the issues the program faces.
First, is the need for money which will need to come from privates sources... although I do believe the facility needs a few million dollars in upgrades and that's on the university.
Also, really any hope for the future is pinned to getting in a conference. Getting in a conference means you get to schedule home games and have a decent chance to win a few games. It also helps recruiting and to legitimize your program. Smallcomb indicated they are again applying to the WAC so that really would be important to get that deal done. Also heard rumblings about the Mid-Con which would be less desirable yet still very critical at this juncture.