only mens basketball and college football players make the university money. a lot of basketball programs don't even turn a profit. Basically football players fund college athletics.
While you state a fairly well known fact, athletic scholarships are still awarded to nearly every sport offered by the school, regardless of that sport's profitability. And while the vast majority of collegiate sports don't bring in money, they do come with a certain notoriety.
College hockey means nothing to anyone in the south, but don't you think perennial powerhouses such as North Dakota, Minnesota and a couple of others actually profit from a lengthy history of success?