[trowawee]

The highest levels of popularity and fan support in college football are mostly focused on high-level play - i.e. the schools in P5 conferences. Are there rabid fans at lower levels of play? Sure, but it decreases. Far fewer people are lining up to watch North Dakota State play than to watch even lower tier P5 schools like Iowa or Ole Miss, despite NDSU winning five championships in the last six years at the FCS level.

If the salary at the highest levels crashed dramatically, the pool of players at every level would shrink accordingly. We would probably see an effect similar to what happened to boxing: the best of the best would still be very good, but the rank-and-file that make up the rest of the sport would be so terrible that most people would lose interest and stop watching. I suspect that fan interest would hold through some level of decrease in overall skill level, but that there is some point where people will just stop watching because the quality of play is so bad (and because of the constantly growing evidence regarding the long-term health implications, which, going back to the boxing example, was another piece of what knocked boxing off its cultural pedestal).