The NCAA women’s tournament is not self-sustaining

See Women’s March Madness Is Growing in Popularity—and Undervalued by Laine Higgins of The WSJ. Excerpts:

"The women’s basketball tournament doesn’t turn a profit"

"The NCAA declined to say how much revenue the women’s tournament generates, only that it is not self-sustaining. Operating costs for women’s March Madness are considerably lower, as first- and second-round games are typically held on the campuses of higher-seeded teams rather than neutral sites and brackets are drawn up to minimize cross-country travel."