Dayooper...For sure football is expensive...and the return on that expense is judged by individual institutions...What I have gleaned. from the interwebz...
...Enrollment applications increase significantly following successful football seasons, and schools with a tradition of success always have a surplus of applicants. Because of this, a school's academic programs can be more selective in choosing which students to accept, and its academic reputation can be enhanced.
(I have seen the affect of branding...In 2021 FSU had 66,000 first year applications for the class of 2025. The ACT scores have pulled from 26 averagie n 2011 to the level of UConn's.
...As football programs succeed, it becomes easier for a board of trustees to raise money for improvements to other aspects of the campus. While an athletic facility may be the first thing built, buildings all over campus are improved or built new. More classroom and lab equipment of higher quality can be bought. Student union buildings, often one of the most important buildings on campus, can be multimillion-dollar projects.
...."I think more than anything, college athletics – especially football at most schools, though Indiana and Kentucky, among others, would argue more for basketball – brings about a strong sense of community," said Dr. Brian Turner, associate professor of Sport Management at The Ohio State University. His research focuses on organizational behavior, with a primary context being intercollegiate athletics. Turner has published over 50 peer-reviewed articles and made over 80 presentations at national and international conferences. "In sport marketing research, you hear about self-esteem enhancement – why we say 'we' when the team we follow wins, even though we don't play.
...BRANDING
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Team spirit and its derivative fan loyalty can infect a campus and a community. Colleges like Notre Dame, Ohio State, Oklahoma State, and the University of Florida don’t merely have sports teams -- they have sports cultures which represent long-lived brands that engulf surrounding towns and permeate their states. Branding by itself translates to money, but it also lures further donations from alumni and fans. Revenue from ads, sponsorships and branded novelty items netted the Florida Gators more than $10 million and the Oklahoma State athletic department received $55 million in donations in 2008.
Obviously programs go in the red...but there are so many benefits that schools line up to go into FBS...