Wow that sure looks true. No post season for a least four years effecting softball and baseball, men and women’s soccer, men and women’s tennis, women’s lacrosse and field hockey.
It's true, sort of. They do say that they can reevaluate in the future, so they could always cut down on the four-year plan if the financial situation improves.
It also doesn't say "no postseason." It says no conference tournaments in those sports, so the best baseball/softball teams still could appear in the CWS/WCWS.
In articles that I read, they also said they were increasing the number of regular season conference games to 30 (historically has been 20), and that the regular season champ will be the conference champ (which presumably means they will get the automatic conference bid to the NCAA tournament).