Doing it without an existing broadcast partner is crazy. Do you have any idea how much money it would take, just to broadcast a single football game? HD, broadcast quality cameras and operators; an army of electricians just to get all of the equipment wired up correctly; a satellite relay truck; the travel and per diem for all of those people and equipment; the personalities to call the game; the legion of researchers to prepare all of the background material that the announcers use; sound technicians (preferably not the ones that set up today's Gameday system); all of the various other electronics that process the video and audio, and switch back and forth between cameras; I can only imagine what the media types pay for credentials to access facilities like the Press Box and/or field. You are talking about an INCREDIBLY complex undertaking.
That doesn't even take into account the legal side of what you can, or can't, do and say during a live broadcast. And you aren't going to have 24 hour live programming, so you are going to have to have professional studio space, equipment, and operations. There's a ton more money.
Notre Dame is a very wealthy University, but it's not like they can print their own money. There is a limit as to what they can do, financially.