Why are there not HS and College extreme sports teams?

Question

I was wondering why there are not schools/colleges with extreme sports teams. They are relatively cheap, considering you don't have to: 1.build stadiums/arenas for them, 2. a ton of expensive equipment, and 3. tons of offseason/summer programs to muscle up for the competition. Why would a TINY SMALL SCHOOL IN DIVISION 2 NOT DROP FOOTBALL/BASKETBALL/BASEBALL AND PICK UP SKATEBOARDING/BMX BIKES/ETC

Answer 1

b/c the people who enjoy these "sports" do not go to college. why go to "Skateboarding School" when you can get a sponsorship and make money right out of high school or before?

Answer 2

Because they are "extreme" the insurance costs would be far too much for a school to want to pick up such a sport.

And since the history of extreme sports is so short, they haven't had much of a huge national buzz to make it a sanctioned academic sport.