"Well, the current system of universities and the NCAA essentially profiteering off of student athletes is unacceptable."
Why? They don't have to play. Both sides get quite a bit out of it, from all I can tell, and it's a freely made decision. Perhaps the only part I do really object to is the movement to prohibit going professional (at either the major or minor level) out of high school, since to the extent that is illegal, then the college option is not a free choice.
Anyway, having college sports at their current quality entails giving a ton of full scholarships, having big stadiums, etc., etc. That takes a lot of money. If you think the universities will fund that out of tuition, you're wrong. And, once they fund it out of sports, I completely fail to see why they shouldn't also be able to use the money for academics, etc. That is their main purpose, after all.