CU's issue is rooted in the leadership which I think is the regents. To one degree or another everyone is beholden to them.
To further exacerbate CU' problem(s) is the misguided view that somehow that leadership group is presiding over some elite institution. Ivy league schools are elite academically. Stanford is elite academically, CU is not. Not even close. In fact I'd argue since Saban's Crimson tide beat Hawkins' Buffs many years ago that Bama has enrolled and produced more elite academic graduates than CU. Preach to me all day long about research money, elite faculty, academic freedom - the athletes make the money, the students (and their competition to enroll) build the academic rep.
Football money raises all boats. Seems like most schools, even the lambs, get that more than the CU leadership does. Nothing will change for CU until the priorities line up. Fine, noble even, to have goals for the academic institution, but if the money maker continues to fail so will every other goal.