set up legally as not for profit entities. Highly doubt the tax laws will allow for a not for profit entity to accept any outside investment capital with an expectation of ROI

This will get tricky legally. Will the for profit sports entity just license the name of the not for profit school? Is that even legal at present?

Football and men’s basketball fund the rest of the sports at most schools. If the revenue and non revenue sports are separated legally, can football and basketball just make “charitable donations” back to the school to support the non revenue sports? So many questions as to how this would work.

Wild.