sadly it is government intrusion, specifically Title 9, that puts most schools in the red. At Bama football makes money, I think basketball is in the black, and probably gymnastics. I'd bet that every otther sport loses money. Football pulls the train, though. Reducing to 75 scholarships might actually end up costing the schools money, if the product becomes less attractive.
If a school is taking a bath financially maybe they need to scale back what they are doing. Not every school gets to run with the big dogs.