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Why college athletics are not facing financial bubble

Many of the issues currently facing big-time college sports result from its incredible popularity. Universities are in the success business, so the fact that campus athletics are thriving is good news, but with success comes challenges.

The most visible consequence of success is money. The attraction of college sports — mainly football and men's basketball at the top 60 or so schools — has resulted in bigger and bigger television deals. Last year Forbes estimated that the five biggest athletic conferences (including the PAC-12) brought in almost $1 billion in TV revenue. That doesn't even count another $1.