People on campus get unnecessarily pissed about tuition increases. I still attend Mason for grad school and I'm all for raises if it helps things like basketball. I get that tuition and fees are different, but raise them both within reason and put it to good use. I'd rather pay an extra $100 a year and get new facilities and raise the value of my two degrees than save that money and blow it on a night out.
I'd also say the kids always protesting this stuff don't realize how easy they have it and how cheap Mason is compared to other VA schools. My guess is they also aren't the people going to games or getting involved on campus.
I have one kid in college now and another headed there in two years, and with what most schools are already charging these days, I wouldn't bat an eye at an extra $500 per year. What's the damn difference? I probably wouldn't even notice it.
Like you said, it's an investment in the long-term value of your degree.
But I know it will never happen because too many people at Mason aren't sports fans and would raise hell about spending millions on an athletic facility upgrade.