College Sports Valuations 2024: A Top 75 Ranking of the Most Valuable Programs
As the revenue generation of major college sports programs continues to soar, private investors are seeking a piece of the action. To determine the value of each program, CNBC partnered with Jason Belzer, publisher of AthleticDirectorU, to compile a list of the 75 most valuable college athletic programs in the NCAA Football Bowl Subdivision (FBS).
The top 15 programs, dominated by SEC and Big Ten schools, are worth a combined $53.4 billion, with an average value of $341 million per school. Here is the full list, from most valuable to least:
1. Ohio State University – $1.27 billion
2. University of Texas at Austin – $1.28 billion
3. Texas A&M University – $1.26 billion
4. University of Michigan – $1.06 billion
5. University of Alabama – $978 million
6. University of Notre Dame – $969 million
7. University of Georgia – $950 million
8. University of Nebraska – $943 million
9. University of Tennessee – $940 million
10. University of Oklahoma – $928 million
The top 15 programs in order of value are further broken down by conference, with the SEC leading the way at $13.3 billion, followed by the Big Ten at $13.2 billion, the ACC at $9.6 billion, and the Big 12 at $6.7 billion.
The revenue figures used to compile the valuations come from the Department of Education’s Equity in Athletics Data Analysis and the Knight Commission on Intercollegiate Athletics for the fiscal year 2023. These revenue figures are then adjusted for variables such as conference affiliation, estimated NIL spend, school subsidies, number of alumni, and other factors that can impact future revenue growth and profitability.
The full list of the 75 most valuable college athletic programs can be found below.