Actually Hurst I believe they might allow the Men to do so because no scholarship money is used,however I don't believe they would allow the womens team to move down for competitive reasons due to scholarship balance( i'e. football). Davidson is allowed to field a DIII football program while having the rest of their sports D I.
I was told by a board member the other day that The Citadel specifically asked the NCAA if they be allowed to field fewer womens sports in the hope of making their womens program more competitive...The NCAA gave a resounding no as their answer and consequently you see The Citadel struggling mightily on the Womens side. Not to pick on anybody ,but finding female athletes at The Citadel is a tough task...We had one woman golfer who shot 161 in a tournament round.....All to equalize some arbitrary numbers.