Drawing on Rodneyist philosophy, this time from his concept of development/underdevelopment, the author considers how once powerful and dominant HBCU athletic programs were decimated by desegregation and ensuing NCAA legislation in the latter half of the twentieth century. As the emergence of the college sport industrial complex proliferated, this crippled HBCUs ability to compete head-to-head with PWI athletic programs and reduced their revenue-generation potential. The author provides new frameworks for criticism about HBCU athletic fundraising which consider how historical, racially discriminatory underfunding of HBCUs create resource disparities that private fundraising alone cannot solve and concludes with a description of attempts at conference and divisional realignment that have not, as of yet yielded new fundraising and engagement opportunities for HBCUs compared to PWIs.