That is correct, however the the initial statement was that bowls don't have payouts. The unsold tickets did not affect how much the bowl paid out, as they still paid the $17 million. It's the fans fault the university did not take home more money, due to the unsold tickets.
In my initial post I made it pretty clear that revenue sharing and unsold tickets will result in the university incurring the cost, thus leading to a lower net gain from playing in a bowl.