To me, here are the important numbers as it relates to Rutgers ...
Avg SEC:
Athletic Budget - $133 mil
# of Sports - 16.5
Endowment - $2.4 bil
Avg BigTen:
Athletic Budget - $116 mil
# of Sports - 21.5
Endowment - $4.3 bil
Rutgers:
Athletic Budget - ?
# of Sports - 27
Endowment - $2 bil
I use a question mark because we play games on how we do accounting for the budget (for example, how student tickets are attributed and on what budget line). The school says the number was $118 mil last year; I bet it was lower (below the $116 conference average). All of that said, like any other business, you have to spend money to make money. We already start behind most of the other members of our conference because we have no history of success (in conference or prior to us entering the conference). Many of those other schools have already spent their upfront money to get the ball rolling on their athletic programs. And almost all of them have more money in the bank. In order to get to their level, we need to outspend them for a significant period of time. I know we never will, but that is the explanation for why we don't compete. The SEC schools have endowments in our neighborhood, but somehow they manage to way outspend us (much higher budget, far less sports) - this is because these schools give a shit about being successful. This is a demonstration of spending money to make money. And it works.
Now, all of that said ... now that we have the new NIL rules, I'm not sure any of this matters. These other schools that have a history of success and donor whales will just out outspend teams like us and there's nothing we can do about it. So I'm not sure it's even worth trying to spend money to make money. The only way I see it being a valuable proposition is if we were betting that we could spend enough to get us to be the 31st or 32nd "professional" team in what will surely be the Professional College Football League that is coming down the road. Teams that get invited into that league will see their values skyrocket (beyond anything we can imagine) and everyone else will have glorified Division 3 sports programs.