Welcome to AVS! If you are a sports fan, don't cut the cord, options are limited. That said, I cut the cord and I am getting along great. I use some of the money I used to spend on cable TV for faster broadband, which is the key to watching glitch-free, 1080p streaming content. The quality and availability of online content has expanded tremendously in the past couple of years.
If it helps, I took a poll (I think it may have been through Google's app) that was asking me about streaming, and if I would pay a fee to stream a handful of networks (it listed quite a handful of majors like ESPN, MTV, etc.). Makes me think that these networks are now considering it as more people cut the cord. The demand is out there; people like you and I are proof of that.
I have been saying for the past two years that maybe in 10 years time, cable companies will not exist as content providers--they will be Internet providers, and we will be able to pick our programming a la carte. I'm not a huge sports fan, but if it's playoff season for MLB and NHL, or getting close (to where I want to watch a few weeks of games before the playoffs), good luck finding anything over terrestrial broadcasts. I'd gladly pay a reasonable fee to get Fox Sports Network or even ESPN for those few months I'd want it.
I've never had cable TV in my life. Internet? Sure. WOW's Internet had as many outages in a year as Comcast's had within a week. The only subscription I ever had was DirecTV--I was an early adopter back in the mid 90s. For the full basic package (without any of the premium movie channels), it cost me only $29.95/month. I don't know if they ever grandfathered that plan for long-term subscribers but if so, I should be kicking myself for giving that up. At the time, though, I never watched it, and the kids maybe had it on for a couple of hours on the weekend.
I mounted an antenna for our Detroit area stations, and just added a second for Ontario, what with the Olympics coming up. The two antennas still cost me less than what many are paying per month for cable or satellite...