there's tournament and regular season championship. coming in 3rd in the regular season is competing. it's not the goal. winning is the goal. but we want to be relevant all season every year.
I'm pretty sure we were eliminated from conference championship consideration with our second loss to VCU that February. We did make a nice run of 4 straight at the end of the season to finish in a tie for 3rd.
I agree that "competing for championships" is ambiguous, and is fairly typical AD-speak. But if a T3 regular season and semifinal loss - one time in 7 seasons - fits Hardt's definition of competing "each and every season" then I just don't know.