If the interests of student athletes are our concern, we would give them the chance to enjoy the sports they enjoy playing. We would try to practice and play as safely as is reasonable. And, we would grant them an extra red shirt year to use this one time if they prefer to sit this year out. We would test and isolate those with positive results, giving them good medical care as needed.
As for fans watching the games, let them choose, they know there are risks in attending a crowded event.
Of course, if this about the money, quit acting as though we care about the players, coaches or fans. And, if it is about satisfying media and public opinions, just close everything down. You are never going to do anything that is not widely critiqued with accompanying shaming and bullying.