I have actually in the past made an argument that colleges drop collegiate athletics entirely. This may sound like a bad idea but when we think about the current economic pressures facing states it doesn't make sense to support programs that don't bring money & prestige to a school. You may not want to cut a football/basketball/hockey team from a school because that is what alums pride themselves on. Not many schools have alums talking around the water cooler about how great the Track team was. It may even be the case that many schools should drop football/basketball/hockey, but an analysis should be done before taking this drastic measure. Oregon may not want to drop track because Phil Knight may be dissapointed and pull funding from other sports, doubtful though based on his recent love affair with the football program at U of O.
I do think that Nikes support of running at the elite level is akin to a charity. How much revenue do you really think a professional runner or collegiant team brings in to Nike? Nike is not sponsoring schools for their track teams.
For example lets take Galen Rupp who is from reports being paid in the neighborhood of $500,000 a year he would have to sell an additional 6,250 pairs of spikes @ $80 bucks to generate revenue to cover his salary. This revenue however is divided up between many facets of Nike's business (i.e. R&D, Manufacturing, and other operating expenses). Maybe on a $80 pair of shoes Nike makes $15. Now Galen needs to sell 34,000 pairs of shoes. Now we must consider that many people who buy Nikes because of Galen would have bought them anyway. Lets say 16,000 people. Now Galen needs to sell 50,000 pairs of shoes. At 50,000 pairs of shoes Nike would earn no additional profit and would be giving Galen $500,000.
So the question is, Does Galen Rupp directly sell $50,000 pairs of shoes??? I'm going to have to say no!!