The Oil City News has an Op Ed by a member of the University of Wyoming Foundation Board of Directors regarding the recent sale of the Y Cross ranch. That article can be found here.
The gist of the article is that the ranch was losing money and there was little other choice but to sell.
Perhaps, but I still remain unconvinced. Could they have leased the ground out for a time, for instance? Could they simply have run it as an agricultural campus? What else was explored?