EvilCoop
What year is it?
This also seems backwards. Students should (and for the most part do) select the best school into which they can gain acceptance. Certainly money becomes an issue for some, say paying for U of Michigan in-state at $12-14K vs out-of-state at $42K. Are kids picking Michigan because of their football program or the academics?
Now-- there is the element of alumni support, etc. Even if the schools ran the side businesses in the sports entertainment sector, the alums would still support their "brand" imo. The fallacy that the system must be contained within the academic missions of these schools is a fallacy. Consider that some of the elite private schools have built sound support and endowments based on the rigor of their academic offerings.
My parents were smart enough to tell me that Michigan was the best school I was applying to. I now have enough money in my college fund to get a free year in whatever professional/graduate program I choose. I don't get how this isn't a factor for many people.