Just to be clear, both were not tried and both were not found guilty. Only LeGrone was tried. Hunt took a plea bargain. So, Hunt was found guilty of accessory to attempted false imprisonment and giving false information (both misdemeanors), according to the article I read. He then testified against LeGrone at trial (although I have no idea what he said on the stand). Notwithstanding even whatever testimony Hunt added, LeGrone was quickly found not guilty. Of course, under American criminal law, the jury has to find him guilty beyond a reasonable doubt. Even a determination that most likely he knew he didn't have consent isn't enough.
It is pretty easy for me to see that based on what has been stated about the circumstances, most reasonable people would have a hard time putting away the young man for probably 20-30 years on what could easily have been understood by him to have been consensual (moral repugnancy aside). Nebraska does not have an "only a verbal yes means yes" standard in sexual assault. Regardless of what you may feel the standard should be, if she didn't voice any objection, then how would he know?
University has no obligation to let them back on the team, restore their scholarships or even let them back into school. The standard for that is much lower. If the school finds its likely they did assault her, then it can keep them out. Creighton still refuses to allow Mo Watson to finish up his degree even though his accuser ultimately admitted to lying in connection with her accusations against him, causing the charges to be dropped by a prosecutor who was initially hellbent on trying him come hell or high water - not even making it to trial.