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Despite years of surging revenue into the top tier of college sports, the NCAA and college sports officials have long said most schools lose money on sports, an argument they use both to argue against having to pay players and to justify the continued need for mandatory student fees to support athletics. This argument is misleading, and ignores an alarming truth about big-time college sports in America: as quickly as extra money flows into a sports department, an athletic director finds something to spend it on.