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None of its programs were profitable in the fiscal year ended 2009, according to the...

None of its programs were profitable in the fiscal year ended 2009, according to the school. Rutgers Athletic Director Tim Pernetti said attending bowl games helps him build his football program and neither he nor the conference wants to give them up. Instead, they’ll look more closely at expenses. "The best-case scenario is the payouts going up," Pernetti said in an interview. "But we also have to focus on keeping our budget tight and constantly look for ways to trim costs."

Those lines were from Curtis Eichelberger's bowl story today for Bloomberg. The piece works well as a case against the bowl system, especially coupled with all of the lackluster ticket sales around the country this year. If losing millions in revenue can't kill the BCS, nothing ever will. The Big East pooling revenue isn't exactly news though, and the line about "state subsidies" was poorly worded considering how little funds Rutgers University actually gets from New Jersey (20.8% as of this year, and has been in a steady decline for two decades).
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