If TU is launching it, it's not going to be a throw-away major for athletes. The new Exercise and Sports Science major (I say new, it was reintroduced when Burns was here), was put together by the training staff and College of Nursing to ensure that the individuals in it would get the appropriate level of coursework. I know one of the faculty/trainers who worked on putting it together and it is legit.
Sports management is a big deal these days. Heck TU has even started a computer and video game programming track as well. They all have real world applications and fields waiting after graduation so why not bring a program to campus that may entice some students (and maybe even athletes) to TU?