(B) For purposes of this section, an institution of higher education suffers harm when, as the result of the acts of an athlete agent or an athlete, both of the following occur:

1. (1) The institution or an athlete enrolled at the institution is penalized or is declared ineligible to compete in intercollegiate athletics by a national association that promotes or regulates intercollegiate athletics or by an intercollegiate athletic conference.

2. (2) As a result of the penalty or declaration of ineligibility, the institution of higher education experiences any of the following:

   1. (a) A loss of the ability to grant an athletic scholarship;
   2. (b) A loss of the ability to recruit an athlete;
   3. (c) A loss of eligibility to participate in intercollegiate competition;
   4. (d) A loss of eligibility to participate in post-season athletic competition;
   5. (e) A forfeiture of any athletic contest;
   6. (f) An adverse financial impact including, but not limited to, lost revenue from media coverage of athletic competition or lost ticket sales.