If Rao's statement that the money will come from fundraising and not the university holds true, I assume that VCU will allocate nearly the entire RAF that is not sport specific to the NIL pot and then supplement it with ticket, NCAA shares and sponsorship revenues. That will leave enormous hole in the Athletic budget and I assume other non revenue sports and various AD support staff not related to MBB will see massive cuts. BOV is meeting next month about feedback from the public on raising tuition and fees. I can't find anything specific, but I am sure they are going to rise the D1 Athletic fee.
I think the mid major schools and programs are about to get a rude awakening as to how passionate fans, alums, students and university staff are at philanthropically funding a pro sports team.