I was a high school athlete. I wrestled on a top-tier team, played football, and ran cross-country after a knee-injury temporarily disallowed me from football. The financial impact of high school sports aren't the issue. The real issue is their impact on high school culture. School sports, especially the big, spectator friendly, fast-twitch muscle oriented sports of football, basketball, and baseball, send a big mess…
When I was in middle school, some friends and I won grand prize at a national robotics competition. That included middle school through university level teams. We got a brief mention in the end-of-year assembly and the person announcing it apparently wasn't told we'd won anything. Meanwhile, the basketball team making the state's Final Four game got three pep rallies, excused absences to attend, huge accolades from t…
I also participated in a bunch of math and science competitions, and got basically no recognition for those (though I did get excused absences to attend).
I think the difference was the cheering section: We got to invite a bunch of friends and acquaintances to get an afternoon off from school and come make noise on a TV set. What high school student wouldn't want that? Then they went back and told their friends that it was pretty fun, and so each round we had a whole bunch more people who wanted to come. So there was a way for people who weren't on the four-person team to participate in some way and feel like they were connected to our success.
Was this a better use of school time and funds than athletics? That's unclear. I think glorifying an academic contest in the same way as an athletic one sends a better message to other students, that if you're looking for that kind of recognition, there are multiple paths that are possible.
[Edit: this was a public high school]