Actually they are having revenue issues. There are very few sports that actually make a profit. Brown had actually terminated their track and field program due to revenue issues. However, once the BLM protested because it would severely decrease their aid to under represented groups, it was reinstated. The decreased revenue and refunds due to the pandemic is hitting all schools. Dartmouth has eliminated 5 sports. Stanford while not an Ivy League school has eliminated 11 varsity sports.
As a group there only 5 sports which generate a profit across DI schools: all men's sports, basketball, baseball, Lacrosse, Hockey and Wrestling. Certain schools may generate profits from sports such as football but as a whole sports do not generate much profit.