Nico ee-ah-MAH-LAY-ah-va
"Leava"
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They are making profit. Have you noticed how convenient it is for schools to make as much revenue as their expenses? It is eerie how schools are able to spend all the extra money they are making, almost to the dollar.For a handful of schools, there is some profit in some years, but the vast majority of Division 1 college athletic programs lose money. And even the biggest programs lose money some years.
The tired and constant accusation of schools making mountains of profit for people has always been, mostly, misleading and emotional. The schools invest almost everything back into the athletics programs. Coaches and ADs were overpaid, to be sure, because it was the only thing schools could waste money to compete on without running afoul of the NCAA's regulations. We can thank the Jimmy Sextons of the world - and Jimmy Sexton in particular - for that.
The real answer is that these are public institutions who typically spend as much as they make in every aspect. Being nonprofits, they have to spend all the money they make.
It is silly to think the schools lose money on athletics. Plus, this also does not fully account for the other benefits of having on campus mega events like Tennessee home football games (such as mega donations that are not included in the "profit" metrics for athletics).