the money doesnt necessarily go straight to the school, the money goes to the athletic department...the school gives the athletic department a certain amount of money, so really the money we would be making if we had a successful program wouldnt benefit the university as much as you would all think, but it would greatly benefit the athletic department in terms of being able to spend more on upgrading and\or building new facilities
not trying you argue your point because obviously a successful program is much more beneficial than an unsuccessful program, but theres just a misconception really around america that a successful team generates tremendous income for the university..it really only holds true for a handful of big time college football programs
just a side note..dont think im pulling this outta nowhere, i just learned all about this in sports economics this past semester