Those calculations are highly dependent on how you interpret the costs of facilities build-up and maintenance.
Most of the time they're hidden on university's balance sheet apart from athletic program budget, since in theory a brand new stadium, training facility, basketball court or swimming pool is used by staff, faculty and students outside of athletic departments.
If the economic incentive was there, a host of private operators would bid to operate an athletic team and facility on a for-profit basis with school getting a cut of the action, sort of what you see with cafeteria, swag stores and other commercial outlets.
So, if I'm understanding your comment, it is even worse than that data shows? That is a frighteningly bold waste of money.
However, the other thing it doesn't show, which is also probably hard to quantify, is how much donor money comes in to the main fund because of continued interest in sporting (I believe my link shows contributions directly to the sporting program). Another factor is the marketing impact to prospective students who choose their school off if their teams.
I'm sure the politics and internal value judgements are complicated, but, as much as I enjoy my alma matter beating up on our rivals, I would enjoy my tax burden and my kids' tuition burden (which comes out of my pocket) to be less. More transparency on the subject would be nice.
Most of the time they're hidden on university's balance sheet apart from athletic program budget, since in theory a brand new stadium, training facility, basketball court or swimming pool is used by staff, faculty and students outside of athletic departments.
If the economic incentive was there, a host of private operators would bid to operate an athletic team and facility on a for-profit basis with school getting a cut of the action, sort of what you see with cafeteria, swag stores and other commercial outlets.