It's interesting that he didn't say, "we might be revenue neutral soon." Instead he's saying, "we're going to run a 'deficit' in the same sense we run a deficit for, say, the English department. We're going to do that because we think having an intercollegiate athletics program is good for Rutgers just as having a good English department is good for Rutgers." As I say above, I agree. . . but it's good for us only if the teams are good and only if the program is run with integrity. The last things we need are to be a doormat or to be perceived as dishonest.
And with the non-revenue sports, which are predominantly women's, I look at the deficit the same way I look at the cost of the band and other musical organizations on campus. Don't see any faculty saying they should be dropped.