Because the donors want to see the football team win, because the football team clears the most revenue by far. Unfortunately if the hockey team is good or bad, it doesn't make a difference for the school.Why can't the same or different donors spend some money on the hockey program?
Not sure if you do either, all it takes is some donors invested heavily in the hockey program to want to contribute to hockey-based NIL.
You're the one under the mistaken assumption that any money to hockey needs to be pulled away from football. Even if 9 alum are rapid football guys, if the tenth is a rapid hockey guy, you have hockey-based NIL right there.
$125K is not that much money in the United States. Do you realize how much money is in the United States?
Sure.. but if there's a will there's a way.
(btw, substitute "Michigan" for literally anybody else, that's just one school that could potentially be a big NIL player, not necessarily the only one).