I have a question for you, my friend. If we accept you argument that a college is a business than should not students who play sports that impact a college's bottom line and cost the school money be forced to pay all costs to the college that is incurred by the sport? This includes all sports other than football and football at most colleges.
The American Red Cross and the American Cancer Society do not earn money because they are not businesses. They raise funds just like other non-profits, including colleges.
The Title IX law means that it would be illegal to pay football players and not pay all other college athletes at the same rate.
In a capitalist economy the "invisible hand" of the free market determines what we are all paid. Coaches are paid what they get because it is worth it to the colleges to pay them that much and because so few people can do the job well.