Something similar happened at my university, but it was so long ago that I can't remember what year. At the University of Tampa, we had a president come in and get rid of the football team and the Greek system because he though our school was too much a party school. The good news is that Greeks were re-instated in the 1980s, so they can come back. This probably doesn't make you feel much better right now, but I hope it helps somewhat :-)
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