I think it would depend on the BFA or BA program and what performance participation requirements they have. It could also be a challenge depending on policies around class attendance. These will vary from school to school. I think it may be diffiult/unlikely to find a program where it would be possible to be a BFA Theatre major and a D1 sports player (or even a D2 or D3). It might be difficult in some BA Theatre programs as well. Over the years I have advised students with challenging combinations of majors, co-curriculars, etc… sometimes what they are trying to do is not possible and they need to make decisions and trade offs, sometimes there is a way to make it all work.
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