I think the Ivy League could cancel athletics because, in addition to their not having onerous cable deals, their student-athletes are less likely to take a semester/ year off.
Our little D-III is in the only conference in New England still competing (although more than half the schools have opted out, because of COVID infections, or because they couldn't or wouldn't pay for the testing protocols the conference calls for.) We're testing twice a week, and although we're a fall sport, we have a spring conference schedule beginning in the middle of March.
It seems like simple economics to me. If we cancelled sports, how many of our 350 student-athletes would opt out of in-person instruction completely? We're already bleeding 'regular' students, so it seems attempting to run a spring (and non-traditional) fall is the only choice for small colleges like us, other than furlough and layoffs.