The difference is that people pay big bucks to watch the football players live and spend time to watch them play on TV, and more so if the team is a _winning_ team. Not so for the cheerleaders. In other words, there is a _huge_ discrepancy in the demand for football talent vs. cheer-leading talent. Not only that, but weather a cheerleader is in the top .01% or just the top 5% of all cheerleaders makes basically no difference to the spectators. Therefore, there will be minimal increase in pay between the top .01% and the top 5%. Arguably, looks are more important to the spectators than talent.
There is no discrepancy so large that it justifies cheerleaders being paid $5.00 an hour when the federal minimum wages is $7.25.
Why can't they make it a volunteer organization?