I'm calling BS unless an article is posted.
It doesn't make sense that the Varsity would want to turn down business because OTHER PEOPLE'S property is being damaged or stolen.
Had you said that there was vandalism to the parking lot or building, or that the meet was restricting business to the Varsity, I'd believe it. But the VARSITY claiming they are no longer supporting it because of vandalism done to the CARS doesn't make sense, unless the APD demanded it of them (and I'm not sure what authority the police have in a situation like this).
P.S. I'd also like to add that I don't believe the whole "vandalism and theft to cars" thing, either. First off, most people are usually standing near their cars or SOMEONE is near them. Most of the people know each other and what cars they drive, so if anyone saw somebody messing with another person's car, they'd probably do something about it. Also, a LARGE portion of the people at that meet are on this site, and I'm not aware of any complaints about people getting their cars broken into.