I'll just leave this here. Examples already exist and there are facts out there if you choose to go looking for them. It's not the money pit you think it is. In fact, Illinois is projecting to be revenue positive within 5 years.
"Collegiate Consulting examined men’s hockey benchmarking within its current conference, the Big Ten. Big Ten hockey currently features seven institutions.
The average Big Ten operating budget for the 2016-17 season was $1.15 million with all institutions offering the NCAA maximum of 18 scholarships. The average base salary for Big Ten head coaches is $293,333 with bonus/merit compensation ranging from $35,000 to a high of $370,000. The first assistant coach average salary is $121,667 with the second assistant coach average salary at $99,167. The average size for Big Ten hockey arenas is 9,419 seats with an average attendance of 6,485, and annual ticket revenue is at approximately $2.3 million."
"Once the Division I hockey program is fully operational, Collegiate Consulting is estimating first year annual revenue of $3.1 million rising to $4.7 million by year five with annual expenses at $3.5 million rising to $3.7 million by year five. The men’s program would have a base operating budget of $1.3 million, in addition to $877,000 allocated for 18 scholarships; a coaching salary allocation of $982,000 and administrative support expenses at $350,000. The program would hire a head coach, two assistant coaches, a director of hockey operations, administrative assistant, athletic trainer, equipment manager and strength & conditioning coach. On the administrative side, Illinois would add an Assistant Director of Ticket Operations, Marketing & Promotions position, Academic Advisor, and Assistant Sports Information Director."
Illinois Hockey Feasibility Study