When structured and operated as an integral part of the college or university, intercollegiate athletics can enhance the educational development of students and student-athletes and act as a window into the academy itself. And yet, there is an uneasy sense among chancellors and presidents that not all is right with college sports. There is rising apprehension that something they value is in jeopardy. In response to a call to action from the NCAA Division I Board of Directors, and under the leadership of NCAA President Myles Brand, some chancellors and presidents have come together to form the Presidential Task Force on the Future of Division I Intercollegiate Athletics. What has brought these leaders together is a shared concern that current growth trends in intercollegiate athletics might not be financially sustainable or socially desirable, and a shared belief that presidents have a responsibility to look beyond the moment and do their utmost to shape a positive future for intercollegiate athletics. The task force has been charged with addressing four major areas of concern: (1) implications of academic values and standards; (2) presidential leadership of internal and external constituencies; (3) student-athlete well-being; and (4) fiscal responsibility of intercollegiate athletics. In this article, the author states that the change and reform of the practices and behaviors in these four areas will be far more difficult to mandate through NCAA policy and legislation than were recent efforts to improve the academic success of student-athletes. While the governance bodies of the NCAA can set specific academic standards for both initial and ongoing participation eligibility, standards related to fiscal practices or value-based behaviors are far more difficult to set without unacceptable intrusions on personal or institutional autonomy. Success will depend largely on the ability of the task force to both forge a critical mass of agreement among presidents and governing bodies that problems need attention, and identify recommendations and best practices that are most realistically achievable at a local level.