“…Division III athletics departments, in general, have fewer coaches, smaller budgets, less commercial attention, and lack of traditional sport-related revenue streams (e.g., broadcasting rights deals, corporate sponsorships, ticket sales) than higher levels of NCAA athletics and professionalized sport and wins and losses do not necessarily have the same financial impact (Covell at el., 2013;Katz et al, 2021;Nichols et al, 2020;Schaeperkoetter et al, 2015;Paule-Koba & Farr, 2013;Zvosec et al, 2021a;Zvosec et al, 2021b;Zullo, 2021).…”