The event revenue loss is negligible. Tickets sales are abysmal.
Like $600 k a year for Hockey. 

Enrollment is down, year after year. That advertising sure is doing UA a lot of good.

No matter what it costs to unwind contracts etc, the cost will be less than $14 million a year. Every year.

The 3% number is a good calling card. But when you consider the impact the 5% to 10% budget cut this year is going to have on the UA system, 3% is actually a lot.

And as the UA budget shrinks, that $14 million becomes a larger and larger overall percentage.

The State of Alaska is broke. Pretty much everything is going to move toward Pay to Play. 

Sounds like you are a stronger support of intercollegiate athletics.
If you want the status quo to continue I recommend organizing and fund raising millions of dollars.

 It should be easy to raise the $14 million with 142,000 fans. That is only 27 cents a day per fan.

edit-Am actually a big fan of sports. We just can't afford the status quo.