The solution is to divorce academic institutions from the sports business.
This deprives no one their ability to make money & also gives student athletes the ability to either get an education or hone their skills.
Most of these high paid coaches and rules violations involve football and basketball anyway...
http://www.nytimes.com/2012/01/01/magazine/lets-start-paying...
On the other hand, coaches get to demand pay that is somewhat linked to the value they provide to the school, and they don't even have to risk career-ending and life-changing injuries (and incur almost certain subtle brain damage) in the process.
Oh, and as is common in our society, the people with the high-paid, safe job are mostly white, and there are many people of color in the exploited job (especially in the sports that make real money). Oh, and they're basically all men.
The "real" money will always be in the pros. Get the kids to the pros quicker, if they want.