They may be revenue generators indeed, but anyway I see this as yet another symptom of a failed setup in the core: research and education should be fully funded by the taxpayer directly instead of indirectly via saddling youth with decades of debt or by sports activities that have nothing to do with academia.

Academia should be academia and only dedicated to further scientific knowledge and teaching, not to spend boatloads of time and resources to hunt for half year grant money or sports revenue. Just imagine all the management time of what is consumed by sports go to helping the professors deal with grants/funding issues - that would be a major boost for science if scientists could actually do science things instead of management things!