They generate billions of dollars in revenue each year, but what exactly are the top college sports programs worth?
CNBC released dollar valuations of the top 75 college sports programs in the country, and several local schools ranked near the top. Texas, Texas A&M and Oklahoma all ranked in the top 10, which Texas and A&M checking in at No. 2 and No. 3, respectively.
College sports programs aren’t just about wins and losses—they’re billion-dollar brands driving revenue through media rights, sponsorships, and community impact. But how do we measure their true value? @AD_University and @CNBC present the first ever athletic department… pic.twitter.com/5BuYlSpwev — Jason Belzer (@JasonBelzer) December 19, 2024
Ohio State topped the list with a valuation of an estimated $1.32 billion. The story cites the Buckeyes’ $280 million in revenue in 2023, an alumni base of over 600,000, a fanbase of over 11 million, boosters that donated nearly $60 million last year and a football team that routinely fills a stadium that seats over 100,000 people.
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The rankings do exclude military academies and only ranked schools that participate in football at the FBS level. The top of the list is dominated by SEC and Big Ten schools, with 18 of the top 20 schools coming from those two conferences. The other two schools in the top 20 are Notre Dame (No. 6) and Clemson (No. 16).
The SEC is worth roughly $13.3 billion in aggreate, averaging $832 million per school. The Big Ten is worth about $13.2 billion, averaging $734 million. After the Big Ten and SEC, there’s a sizable gap that’s worth billions before you reach the ACC and Big 12. The ACC is worth roughly $10 billion, averaging $558 million per school, and the Big 12 is worth roughly $6.7 billion, or about $240 million per school.
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According to CNBC, the data comes from the fiscal year 2023. Given this, the true financial impact of SMU’s move to the ACC probably isn’t completely reflected in the data just yet.
“The list is reflective of the current enterprise value of each program, starting with a base revenue multiple of four for all institutions, and then adjusting the multiple for variables, including conference affiliation, estimated NIL spend, school subsidies, number of alumni and other factors that can catalyze future revenue growth and profitability,” it says.
See the ranking and valuation for each of our local schools below.
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Ranking School Valuation Revenue Conference 2 Texas $1.28 billion $271 million SEC 3 Texas A&M $1.26 billion $279 million SEC 10 Oklahoma $928 million $199 million SEC 33 Texas Tech $619 million $147 million Big 12 39 TCU $542 million $149 million Big 12 44 Baylor $513 million $137 million Big 12 46 Oklahoma State $500 million $122 million Big 12 65 SMU $327 million $86 million ACC
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CNBC releases most valuable college programs: See where Texas, A&M, SMU and more rank
