According to the numbers in that article:
Revenue of all of collegiate sports (2012): 10.6B
Combined yearly "FMV" of football and basketball players in college according to this report: ~18.6B
(68k football players * 178k/yr) + (17.5k basketball players * 375k/yr)
Average D1 School football revenue: 15.8M
Yearly "FMV" of 85 scholarship players: 15.13M
If you think those numbers make sense, more "playing school" might be needed. I also tend to agree with Dave above, the "fair market value" of what they are already getting is vastly undervalued.