Then you have kids choosing where to go to school based on what makes them the most money. And, do you do this for all sports, or just for men's basketball, and football? The women's sport advocates won't be happy about it, or the disproportionate amount of money that will inevitably go toward men's sports.
You really think people don't already do this? Th elite athletes are already choosing schools based on which ones they think give them the best shot to go pro (i.e. which ones are going to get them the most money).
The only athletes that are really bringing money into the schools are the elite athletes. Everyone else is either breaking even or not bringing in anything. That's the business side of it, and if a player is bringing a lot of money into the school, they should see some of the benefits. It's like any other business. If you do exceptionally well and you bring a lot of money into your company, you get rewarded (pay increases, bonuses, etc). Likewise, if you don't bring money into your company, you shouldn't get more pay or bonuses. Simple.