Even if most lose money, they still gain increased notoriety. Schols like LSU, Duke, and USC recieve more applications in part because of the lively student life held up by sports. So even if the papers don't show it, sports still play a role. Also, as I said earlier, athletes don't always have the same oppurtnities after school. They are taking their time to provide the school with the benefits coming with athletics, and should be compensated for their time and potential risk of injury that could detract
from future employment.