The University of Texas football program has been one of the most valuable in the country for years. From the brand to payments from the Longhorns Network to the school’s oil reserves to big name donors to its size, Texas is always near or at the top.
This year, is no exception. A new study by CNBC lists Texas Football No. 2 in the nation, right behind Ohio State. In the era of NIL and record profits, private investors are even trying to get in on the action.
“Ohio State University is the most valuable athletic program, worth an estimated $1.32 billion. The Buckeyes had $280 million in revenue in 2023, the most of any school. Other factors that helped propel the Buckeyes to the top of the rankings are an alumni base of over 600,000, a fan base of more than 11 million, boosters that donated nearly $60 million last year, and a football team that routinely has attendance of over 100,000 at its games.”
— CNBC’s Michael Ozanian
It is no surprise the overall list is top heavy with teams from the Big Ten and SEC. Texas A&M, Michigan and Alabama joined Texas and Ohio State in the Top 5. Notre Dame is sixth.
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
The SEC is worth about on average $832 million per school, with a combined worth of $13.3 billion. The Big Ten is $734 million per school totaling $13.2 billion. The ACC is $562 million per school totaling $9.6 billion and the Big 12 $420 million per school at $6.7 billion total.
| Rank | Program | Valuation | Revenue | Conference | ||||
| 1. | Ohio State | $1.32B | $280M | Big Ten | ||||
| 2. | Texas | $1.28B | $271M | SEC | ||||
| 3. | Texas A&M | $1.26B | $279M | SEC | ||||
| 4. | Michigan | $1.06B | $230M | Big Ten | ||||
| 5. | Alabama | $978M | $200M | SEC | ||||
| 6. | Notre Dame | $969M | $224M | ACC | ||||
| 7. | Georgia | $950M | $210M | SEC | ||||
| 8. | Nebraska | $943M | $205M | Big Ten | ||||
| 9. | Tennessee | $940M | $202M | SEC | ||||
| 10. | Oklahoma | $928M | $199M | SEC | ||||
| 11. | Penn State | $924M | $202M | Big Ten | ||||
| 12. | USC | $923M | $212M | Big Ten |