Simply stated, admit that the P5 and a few other G5 athletic programs are a professional sports organization focused on making money, not promoting academics. Separate men's basketball and football (possibly men's hockey, women's basketball, men's soccer, men's lacrosse, and baseball, too) from direct university control (maybe license agreements to use a university's name or something can be put in place). This would move everything above the table as we see in the NFL, NBA, NHL, etc. The US is the only country where this academic sports model exists. The Sorboone, McGill, Oxford, etc. do not run athletic budgets in the tens-of-millions. Sports is a business. The Ivy League basically did this 50 years ago, survived, and continue to do well. Thus, it is feasible. Of course, that some universities may have to let go a huge part of their identity and focus back on academics, which should be a good thing.
Devolve the NCAA back to what it was with respect to an oversight organization responsible for promoting and ensuring fairness of college athletics with a focus on non-revenue sports and programs (DII and DIII).
Of course, with the billions of dollars on the table (and millions below it), this will not happen.
