Ok, for all you who are stuck on the money argument, here are the facts from the NCAA (all figures derived from here:
http://www.ncaapublications.com/productdownloads/REV_EXP_2010.pdf)
14 athletic programs in FBS reported positive net revenue in 2009.
This is down from the 25 in 2008.
The gap between "profitable" and other programs continues to grow.
Number of athletes across all divisions remains stable
Expenses per athlete across all divisions are rising
Total athletic expenditures as a percentage of total institutional expenditures have remained constant across all divisions (~5%)
FBS median revenue grew 5.8%
FBS median expenses grew 23.8%
The median losses of athletic programs in FBS grew 25.7% from ($8,089,000) to ($10,164,000)
111 athletic programs in FBS reported losses in 2009
Of the programs reporting losses, median losses increased 10.5%
The largest FBS athletic program generated revenue of $138,500,000
The median FBS athletic program generated revenue of $32,264,000
The largest FBS athletic program generated expenses of $127,651,000
The median FBS athletic program generated expenses of $45,887,000
50-60% of football and men's basketball programs have reported surpluses for each of the last 5 years
The largest FBS football program had revenue of $87,584,000
The median FBS football program had revenue of $15,306,000
The largest FBS football program had expenses of $40,829,000
The median FBS football program had expenses of $11,919,000
The median "profit" of FBS football programs that made money was $8,805,000
The median "loss" of FBS football programs that lost money was ($2,697,000)
The median FBS football program had net revenue ("profit") of $2,541,000
The top 5% of FBS football programs make ~35.7% of all football profit
The top 10% of FBS football programs make ~56.2% of all football profit
The top 15% of FBS football programs make ~68.6% of all football profit
The bottom 5% of FBS football programs account for ~21.7% of all football losses
The bottom 10% of FBS football programs account for ~39% of all football losses
The bottom 15% of FBS football programs account for ~52.9% of all football losses