Given there's some decent discussion in here, I want to share some readings that are proximal to college athletics, money, professional college football, etc. :
Most Americans don't realize state funding for higher ed fell by billions - higher ed funding plummeting (I'm sure by this point we've all heard/seen this, but it's important because is a reason why higher ed institutions have to rely on investors, who have the interest of profit first and foremost.)
A critical article from 2012 detailing University of Texas' athletic department and it's role in the economy:
Billionaire Ball. (Maybe to your point,
@Thelonious - as the subtitle is "Epitaph of the 'Student-Athlete'"
Report on campus debt uncovers larger problems facing public higher education - something from UMass Amherst on capital debt in colleges.
Another article:
Sports - Who's Funding Who?
Main reason I post these: Cities, colleges, and more have hitched some large part of their economy to the NCAA - the interest of it existing is beyond just the NCAA and its athletes.
The reason the NFL/NCAA and other sports groups exist isn't just because they make money through the sport, it's because they have crept into every facet of economy they can.
Someone recently asked me why I thought eSports has less stability beyond it being relatively new, and this is some of the stuff I found when putting together a detailed response.
Enjoy! Or don't, whatever.
Edit: added another article