I don't think you can debate the fact that there are tens of thousands of students that gain the opportunity to attend college due to athletics that otherwise would not have had the opportunity. Colleges have long realized that extracurricular activities including athletics enhance the experience on campus for non-participants too. As for college football being sexist, that is just another misfire from the hip (Big hips at that.)

Here is an interesting website that details the 2004-2005 income and expense statements from 141 public universities. The Indystar also requested the same info from the Div I privates but none responded.

http://www2.indystar.com/NCAA_financial_reports/

Revenue from the mens and womens basketball, football and hockey often support the expense of maintaining the non-revenue sports.