First of all, the opposition never mentioned WHY they lose money.
Secondly, their statement saying that colleges already rely on student fees is strong, however we aren't accounting for the money they COULD earn if they win things like competitions. As stated in my first argument, I said they would be paid depending on how they performed in the matches, if they don't perform well enough to earn any reward at all, the team will get paid nothing.
This is why colleges wouldn't need to cut other sports, because with the motivation and drive the athletes are getting by knowing that they can get paid (money back) would push them to playing better match and match. And if the other team tries to argue that motivation in itself is unreliable, then we can propose the idea of only letting competent people join the team. There could also be separate teams that DONT get paid but are in training to join the actual team. Just like in the sport soccer, big clubs have A, B, and C teams that get paid different margins because their skill level just isn't good enough.