It's interesting to me that the real players in this are largely state-sponsored universities.

Georgia, Alabama, Texas, Oregon, Michigan, Ohio State, etc. At least SC is private & likewise ND.

Anyway, how is it that an entity that is a state-chartered tax-exempt organization whose primary purpose is to provide education to the citizens of that state is somehow able to own a professional sports team? There's probably something there legally at a charter, tax-exemption, and Federal tax-exemption level (i.e., unrelated business income tax).

But when a hired gun like Riley Leonard is making $1.2M and Jeremiyah Love is making not $1.2 million, the inequity of the whole thing will eventually force the issue.