Fencing and crew tend to be sports done by wealthy suburban high schools and private schools. Could be viewing them as more likely to have high $ parental donors or to be more attractive to wealthy donors.

Could also be driven by admissions considerations. Some schools require the overall athletic grade and test score averages to be not too far from the university's overall averages. They make up for football and basketball with sports like cross country, crew, fencing, swimming that tend to draw from wealthier high schools and prep schools with stronger academic programs.