You talk about things like a basketball major taking journalism classes. But NU already offers degrees in journalism. If a player wants to focus on sports journalism, that path already exists, but you talk about creating a "journalism lite" path for the basketball player who gets to substitute playing time to count as class credits towards his degree. Since he's substituting playing time for coursework, his "journalism lite" degree is clearly less rigorous (academically) than the established journalism route.
What department is responsible for providing this degree with a major in basketball? Will it be the athletic department? Or will you slap Medill in the face by forcing them to accommodate the journalism lite path? What about the "front office type" path? What about the "coaching" path? Will this major in basketball be open to all students or only to the athletes who can use their playing time as class credits?
My Medill degree included, as I recall, only 12 journalism courses, of which three were taken up by a quarter-long internship (no instruction, full tuition!). I had, all told, nine actual courses in journalism.
A well-rounded 'hoops' major - with sport specific coaching, history, strategy classes - along with a variety of business, law, economics classes to support things like running private coaching / training operations - would be very analogous to what I took.
NU is not the right school to offer a program such as this - with no undergraduate business and no physical education, the school would be starting from ground-up - but it absolutely makes as much sense. I would submit that it could be a series within the sports management concentration that many schools already have.
A hoops major is at least as likely to find a career in hoops as a percussion performance major is to find a career in percussion performance. Sports seems a growth industry to me - I'm not sure about music in general, but I have a good idea about operatic performance.
From my count, there are about 60 teams through the organization linked below. Sponsorship sales, recruitment, coaching, past player outreach - it's all baseball, but it's lots of other things as well.
http://www.eastcobbbaseball.com/