Oh yeah, a guy like that wouldn't try to do it overnight. There would be too much opposition from the fans, alum, etc.
He would do it slowly from the inside. Cut here, cut there. Get a scholarship reduction approved. Let the stadium fall into dis-repair. Raise ticket prices. Refuse to raise coaches salaries. Then soon the football team is barely staying at .500 for two, three, four seasons in a row. Fans bail and our attendance plummets to less than ten thousand. The sales on Griz gear goes to less than 30% what it is now. We lose the TV games, the coaches lose their TV commercials and coaches shows.
Then the students and faculty vote to get rid of a football program that is draining University funds and resources.
Just ask the Alum at San Francisco, Denver, Santa Clara, Pacific, Santa Barbara, Fullerton, Long Beach, and many others how this can happen. And ask them how many of them saw it coming before it was too late.
Of course remember what I'm saying here is just a worst case senario that could happen. Do I think it will? No. Is there a zero chance it could? No, but there is maybe a 10% chance it could happen. And that is a little scary, but I'm not worried yet.