@musicprnt, I agree with you to a large extent. Although one mitigating factor is that at many schools the football and basketball money is funding all the non-revenue sports, and I think sports are a worthwhile endeavor for any educational institution.
There are many schools that break out sports as a separate fee on your bill each semester, and many of them are charging hundreds of dollars per year per student, regardless of whether you play a sport or have any interest in sports at all. It’s crazy.