Here's some fun testimony from Mark Emmert from the O'Bannon trial. Remember this was all under oath. Can't really have just football or basketball without a full range of other sports. (all citations are to the O'Bannon trial transcript, this is from p. 1725)
Here's Emmert testifying that the LSU Tigers are more popular than the New Orleans Saints because LSU football athletes are integrated members of the LSU campus. (pp. 1771-2)
Here's Emmert explaining how research shows Athletes should interact with non-athletes on campus (pp. 1788-89)
Here Emmert explains : if athletes can be paid, then they won't live with other students, or eat with other students, or be active in on-campus events - which would then fundamental ruin what college sports are about (as in the LSU vs Saints comparison). (pp. 1789-90)
Voila, if colleges go to a sports bubble, they will destroy one of their core claims about why pay above cost of education would destroy the popularity of college sports.

As a separate point, Emmert also said if Athletes can earn money from NIL, schools will quit D1 (p. 1783)
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