Football and men’s basketball do not merely pay for themselves at major universities. In 2025, the last year before the settlement took effect, Michigan reported more than $120 million in combined surplus from football and men’s basketball. Football and men’s basketball produced more than $20 million at Boise State and about $6 million at San Diego State. Ticket sales, television contracts, and donations tied to football and men’s basketball have long financed teams that cannot cover their own costs. The financial reports tell a simpler story: Football and men’s basketball laid the golden eggs, and nearly everyone else lived on them.