For efforts like this, the University really only gets some news recognition blips that people quickly forget.
The PI may have a slightly sexier project if they successfully pull off said endeavor which leads to increased competitiveness in review processes, increased likelihood of funding, and then the University likely gets some overhead in many cases.
The real question for me isn't from Universities making money (which is highly indirect and likely fairly insignificant in volume). The real question is why research is so frequently underfunded and a low priority in this country. There can be more budget for blueskies research but ROI is long, unknown, and research is treated like a business. Research should be treated like an endeavor for knowledge where people doing it need to eat, have a home, etc. and realize it's being done and released to the public for everyone.