Imagine pouring hundreds of millions into a program that doesn’t turn a profit in the traditional sense, yet somehow ends up worth over a billion dollars. That’s the wild reality of big-time college sports today. Just when you think the money couldn’t get any bigger, the latest valuations come out and prove everyone wrong – again.
The Shifting Landscape of College Athletics Value in 2025
This year has brought some serious shake-ups in how we measure the worth of college athletic departments. The combined value of the top 75 programs has climbed to an eye-popping $51.22 billion. That’s a solid 13% jump from last year’s figures, and it shows no signs of slowing down anytime soon.
What’s fascinating to me is how quickly the leaderboard can change. One school surges ahead while another slips, all driven by a mix of on-field success, donor enthusiasm, and those massive television contracts that keep getting richer.
Texas Takes the Crown
For the first time, the University of Texas sits atop the rankings with a valuation of $1.48 billion. That’s up 16% from last year, and honestly, it feels like they’ve been building toward this moment for a while.
Their athletic program pulled in $332 million in revenue during the most recent fiscal year – more than any other school. A huge chunk of that came from donors, who contributed $137 million. That’s a 53% increase from the year before. When alumni and boosters open their wallets like that, it changes everything.
I’ve always thought Texas had the potential to dominate financially, given their brand strength and massive fan base. Seeing them finally claim the number one spot just confirms what many suspected.
Ohio State Slips to Second
Last year’s leader, Ohio State, now sits at number two with $1.35 billion. Their value grew by 2%, but revenue actually dropped 9% to $255 million. The main culprit? Fewer home football games in the 2023-24 season, which hit ticket sales hard.
It’s a reminder that even the bluest of blue-blood programs can feel the impact of scheduling quirks. Football remains the engine driving these valuations, and any dip in home games can create ripples.
SEC and Big Ten Dominance Continues
Looking at the top ten, it’s clear which conferences are winning the money race. The Southeastern Conference and Big Ten claim most of the spots, with schools like Texas A&M, Georgia, Michigan, and Tennessee all cracking the billion-dollar club.
Texas A&M holds third place at $1.32 billion, followed by Georgia jumping to fourth with $1.16 billion – a impressive 22% increase. Michigan shares that same valuation but lands at fifth.
- Notre Dame breaks into the top six at $1.13 billion
- Tennessee climbs to seventh with $1.12 billion
- USC, Alabama, and Nebraska round out the top ten
The conference realignment we’ve seen over the past few years is paying dividends. Schools moving to the SEC or Big Ten are seeing immediate boosts in perceived value and revenue potential.
What’s Driving These Massive Valuations?
At the heart of this growth are media rights deals that keep escalating. Football and basketball television contracts are pouring money into athletic departments at unprecedented levels.
One conference recently doubled its annual payout through new agreements with major networks. The expanded College Football Playoff will more than double its previous rights fee starting next year. Even independent programs are cashing in with deals worth twice their previous amounts.
College football sits just below the professional level in terms of popularity, and expanding the playoff field further makes perfect financial sense.
– Media rights consultant
Many experts believe we’ll eventually see a 16-team playoff because that’s where the real money lies. Each additional game means more broadcasts, more sponsorships, and more revenue flowing to the schools.
The Rise of Private Capital
Perhaps the most interesting development this year is the entry of private equity into college sports. One program recently became the first to accept outside investment capital, opening a door that many others might soon walk through.
Schools face massive upcoming expenses – settling past claims with athletes and beginning direct revenue sharing that could exceed $20 million annually per program. Private capital offers a way to fund these obligations without draining university resources.
In my view, this could fundamentally change how athletic departments operate. We’re moving from a model reliant on donors and ticket sales to one that includes sophisticated investors looking for returns.
Name, Image, and Likeness Growth
The NIL market continues its rapid expansion. Projections suggest it could more than double from current levels within the next couple of years, reaching over $2.5 billion annually.
Athletes now have multiple revenue streams beyond traditional scholarships. This has made top programs even more attractive to recruits who want both competitive success and earning potential.
Notable Risers and Surprising Moves
Some schools made dramatic jumps this year. Arizona State saw its valuation increase by 54%, while several programs climbed double digits in percentage growth.
New entrants to the top 75 include programs that have capitalized on conference moves or strong fundraising. Meanwhile, a few traditional powers experienced slight declines but remain solidly in the rankings.
- Brigham Young jumped 40% in value
- Connecticut and South Florida saw major gains
- Two programs entered the list for the first time
These movements highlight how quickly the financial landscape can shift based on conference affiliation, coaching success, and donor engagement.
Looking Ahead: More Growth Expected
The factors driving these valuations show no signs of slowing. Media deals continue to grow, playoff expansion looms, private capital is entering the space, and donor enthusiasm remains strong at many schools.
It’s remarkable to think how far college athletics has come financially in just a decade. What once seemed like astronomical figures are now the new normal, and next year’s rankings will likely show even more growth.
The business of college sports has truly entered a new era – one where billion-dollar programs are becoming commonplace and the financial stakes keep rising. For fans, it means more resources for facilities and athlete support. For administrators, it presents both incredible opportunities and complex challenges.
One thing feels certain: the numbers we’re seeing today will look modest in a few years. The combination of media money, private investment, and evolving revenue models points toward continued explosive growth in college athletic valuations.
What stands out most to me is how these valuations reflect broader changes in college sports. We’re witnessing the professionalization of what was once purely amateur athletics, and the financial figures tell that story better than anything else.
| Rank | School | 2025 Valuation | Year-over-Year Change |
| 1 | Texas | $1.48B | +16% |
| 2 | Ohio State | $1.35B | +2% |
| 3 | Texas A&M | $1.32B | +5% |
| 4 | Georgia | $1.16B | +22% |
| 5 | Michigan | $1.16B | +9% |
The top five alone represent over $6 billion in combined value. That’s more than many professional sports franchises, which makes you realize just how big college athletics has become as a business.
Whether you’re a die-hard fan or someone who follows the money side of sports, these numbers tell a compelling story about where college athletics is headed. It’s a story of growth, transformation, and increasingly sophisticated financial management at America’s universities.
