We cannot afford to handcuff the football program with those sanctions; football is one of the main reasons we moved up to D-I in all sports in the first place. Football will have a legitimate opportunity to win national titles and to have a legitimate chance of making a run, you have to be able to host playoff games. Home field is more important in football than in any other sport. If we do what you're suggesting, we might as well move to non-scholarship DI FCS football and join Valpo's conference, because we won't get the blue chip FCS recruits anymore.
As for REA refusing to cooperate with a possible name change, I am not a legal expert (nor do I have any desire to become one), but aren't the Fighting Sioux name and logo the legal property of the University of North Dakota? That is, anyone who wants to use the name and logo has to have the permission of UND or else UND can take action against said person or entity. So if the State Board decided to change the name and UND told REA to stop using the name and logo, REA would have a legal obligation to comply or face certain legal consequences.
This would be an excellent acid test to find out if REA really exists to serve UND's interests and promote it's general welfare or if it's really the other way around. Somehow, I think the potential long-term benefits of being able to host future regionals and other tournaments (and the profit potential of those tournaments) would outweigh the short-term costs of removing the logos. But I'm not in the minds of REA management, so I can't be sure about that.
Some people would take the position that "we just can't sue REA over this". Well, I think we can and we should if it comes down to the scenario I described above. REA just relishes the fact that they are a private entity; then they should be treated like one. Being a "business" and a "private entity" is a double-edged sword, like a lot of other things in this world.
Just my 2 cents.