I suppose every market is different, but from what I've seen in my fourth year of shooting sports is that there are pockets of opportunities. I've yet to predict where those pockets lie. I’ve shot games I figured would have great sales, only to have sold a couple or no images. I’ve also receive all of the accolades on the images I produce, and even the “get lots of shots of my kid #21 and I’ll purchase them, never to receive on sale from that parent. LOL I’ve also shot games thinking I’d have zero sales and yet sold several hundred dollars of images. In my area, as you can see, it’s a crap shoot. So for the past two seasons I shoot very little on spec and rely on being a stringer for a couple of newspapers and an occasional paid gig for MaxPreps. So any parent sales are simply gravy.
With that said shooting sports does have some indirect benefits on the other side of the photography business (portraits) and other side sport gigs. But like anything it takes time. Time as in visibility, driving traffic to your site, and just generally exposure. The more your out in front of people, the better chance your name will come to mind when someone needs a photographer. So if you don’t have anything else to do and have some free (and I mean free LOL) time spec does have a place, as the monetary benefits is not always just print sales.
As far as your T&I, just know you can’t always land one of those projects any time you want. You can only lay in wait for the current photographer to give a reason for the administration to look for a change. Again, that is where the time invested in being in front of your future clients comes in.
Good luck, and keep us posted.
Warren