Michigan leads the teams playing for 2012 BCS Bowl Championships in the percentage of total revenue not derived from football. Only ~1% of Michigan's total campus revenue is derived from football.
By these figures, football accounted for 14% of LSU's gross income...
Alabama... earned a final mark of 11%...
Other schools which had football teams playing in elite bowl games had far lower marks: These include Clemson (5%), West Virginia (3%) Wisconsin (2%) and Michigan (1%).
This shows how well-rounded Michigan is when compared to its football competitors and is evidence of the breadth of opportunities available at the University of Michigan. With its diverse revenue, Michigan is able to fund a top football education as well as top extra-curricular and research programs. This diversity strengthens the university, allowing it to take more risk, as a negative outcome from any single program (spread-offense anyone?) will not have a large impact on the university as a whole.
Michigan also leads the Wall Street Journal's study group in total revenue with over $6 billion in total campus revenue (Revenue Spreadsheet). (edit: Link not working, click source and then scroll down and click on second graphic on left) For laughs, rank the list accoring to football share rank and find the SEC schools. SEC speed = football is all we do.
These facts are excellent evidence of the true strength of the University of Michigan, its diversity. It is a football school while simultaneously being a research institution and an excellent educator. If a football recruit wants to get the full college experience and have as many opportunities as possible, the University of Michigan is the premier institute in the country.