I personally believe that ESPN, the Supreme Court and the conferences will end up killing college football, but that’s just me. I just don’t think that if it keeps going the way it does with the money and greed that it’s sustainable.
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But good attendance. Excepting the covid years, MiLB is profitable. The money isn't blowing the doors off, but its enough to pay the bills. Baseball has LONG recognized the need for developmental leagues to recruit from, because pitching is one of the most physically demanding jobs there is. Once the Cardinals started doing it in the 1920's, EVERYONE had to follow suit because it was a pitching arms race. You couldn't afford NOT to have a stable of pitchers to call up.
It improves the sport overall to have a development pipeline. The NHL has had it for a while, and the NBA is starting to use it too.
The NFL sees college football as the free version of that, which saves them a shit load of money, so in my opinion they’re only gonna do that if college football completely collapses.