Exactly, WBB while it does produce some ticket sales is a much larger drain than people think. Most profits in college athletics are tied to TV deals, which unless you're UCONN and a few others you're losing money.
A very interesting article was written a few months ago on ESPN and I'm unsure how much/or if it was discussed on here:
http://sports.espn.go.com/ncf/news/story?id=5490686
In essence, the article demonstrates how bloated athletic departments all across the nation are losing money (including the U). I suggest reading the article if you haven't, but to quickly break it down only 14 of 120 FBS school athletic departments made money last year. You can argue that some of this is due to increased coach contracts and football spending; however, look at the programs that made money and its clear they are the best, highest paying football programs. Additionally, 68 of the 120 football programs DID turn a profit further demonstrating they are playing within their means. To top it off, of the 98 D-I colleges without football, all of them lost money.
In relation to basketball, the article states it is merely identical across the board. At the U, we also have Hockey fortunately but I'm not certain how much profit they generate (I have no idea what the numbers are), but again it isn't nearly as much as football and basketball because they have minimal TV contracts in comparison. The mens basketball and football programs fund the entire athletic department, which in this day, has become increasingly bloated with every team and coach trying to get their "fair share" of the pie. At the end of the day, ADs are giving in, awarding larger contracts, additional travel expenses and new buildings to programs that on a yearly basis lose university money. Meanwhile, powerhouse programs such as OSU who have invested a TON into the revenue producing sports are rewarded with larger tv contracts, national exposure, and larger profits, which in turn creates a stable environment where non-revenue sports can feasibly survive.
The current state of the U and many other schools in the nation are forced to be react to this, not just in part because of the economy, but because of near-sighted ADs (Maturi) who have failed to adequately address looming issues (basketball practice arena/25 years in the dome), and have also increased spending in non-revenue sports to "keep up." Maturi boasts having good teams across the board, but in reality, his near-sightedness (sp?), will cost them down the road.
At the end of the day, there will be major reform in college athletics. And it will not be with decreased spending in basketball and football. ADs now have to react to trying times and it will be through cutting/trimming non-revenue producing sports budgets or cutting them altogether. The spending is just to high to justify keeping some of them around. Times have changed.