Students have revolted against self-assessed athletics fees in the last few years. Like I said above, North Alabama's students voted against it/increasing it before finally approving. UTSA students voted against it in 2018 (don't know if they put it back on the ballot). Kansas' students voted for canceling that fee in 2014. I think something went down at Washington State. Stephen F. Austin had trouble with a fee increase in 2016.
And yes, all you need now is for an SGA president railing against paying for stuff without a return on investment to sink it. '
Hell, Grambling didn't have a student-assessed athletics fee until 2014 (after them boys boycotted the Jackson game). The school failed to get student support the year before.
They were the last college in Louisiana to have such a fee.