The drink he is referring to is Gatorade

It was originally Gator-aid because the science department mixed it up for the football team with the Gator mascot (as in Alligator)

The other college in Florida has the mascot of the Seminoles (a native American tribe.)

However the joke is that Seminole sounds like seminal. Seminal fluid is the correct name for any fluid carrying semen. (Ie ejaculate / cum)