It all comes down to the bottom line.  What did they make in income for the year versus what did it cost them to keep it open.  The money to build it is gone. Now, we need to look at income vs outflow.

An intangible that is harder to calculate is what does the sports program do for the people who otherwise wouldn't have gone to college at all.  Are they going to contribute more to society now because they got an education and good paying job as opposed to drawing welfare and working for minimum wage.