If college sports were about making money, they'd only have two sports - football and men's basketball. Those are the only two that make money and end up supporting the costs of the other sports through with their revenue.

I think there's definitely a chance for universities to mismanage or mishandle intellectual property, but I think those universities are the minority. Research funding is already slanted towards research that can be turned into something marketable some day. Is there anything wrong with that bias?