[fatman]

The accounting for college athletics is weird. Do you only count tickets/TV/bowl $$ in? Or do you try and include alumni donations directly or indirectly linked/influenced by sports? How do you know whether or not the alumnus/a would have donated if not for the team? Do you count sports individually or as a whole? - under title IX you can't just cut the women's programs outright. You can manipulate these variable to claim almost anything you want about profitability in either direction.