...financial Armageddon for many Universities.
You mean they would have to live within their financial means?, Carefully choose students for likelihood to succeed, carefully prune staff and departments for maximum bang for the buck?
Oh the Inhumanity!
Maybe schools could teach and prepare students for lifelong work. Do we really need all these sports?
I have a friend who was working on a masters degree in university management. He said that only three colleges in the country make a profit on their sports programs. In most football and men's basketball only partially subsidize their other sports. Now that didn't include calculations on donors who might not open their wallets for a sportsless college and dual use (recreation plus intercollegiate athletics), but it sounds like once they fire their athletic departments and sell the equipment they'll come out ahead.