Alumni and fans spend a lot of money on college game tickets and apparel, and not because the university has a great public relations department. It is because the team is exciting to watch. The fans are entertained. It is the talent of each athlete that keeps fans spending money. Without athletic programs, universities would not have a way to keep graduates regularly connected to the school.
Athletes help universities establish a web of donations and alumni that support the school.
Athletes should finally be recognized for their contributions and get a cut of the revenue. Maybe then they wouldn't have to use college as a way to increase their net worth, and they could spend four years enjoying their careers and their educations.