AUSTIN (KXAN) — If the Texas Longhorns were sold on the open market like a professional team, the program could fetch more than $2 billion, according to a recent study.
Dr. Ryan Brewer, an associate professor of finance at Indiana University Columbus, valued the Longhorns at $2.2 billion in his latest list of college football programs. Texas is the only program in the country to be valued at more than $2 billion, and the top two programs are both from Texas. Texas A&M comes in at No. 2 with a valuation of nearly $1.59 billion.
Texas mascot Bevo is led onto the field before an NCAA college football game between Texas and Colorado State in Austin, Texas, Saturday, Aug. 31, 2024. (AP Photo/Eric Gay)
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Ohio State ($1.55 billion), Louisiana State ($1.54 billion) and Michigan ($1.46 billion) round out the top five in Brewer’s analysis that takes current industry trends, revenue and cash flows, along with economic shifts to estimate what the programs could be sold for.
Brewer told the Wall Street Journal that the value of the programs has never been higher, saying valuations were up 46% over last year due to revenue sharing by schools with players and the transfer portal that creates free player movement. It’s helping create more interest in the sport, Brewer said, because it’s creating a larger number of potential championship teams.
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“Even though they’re paying players and it’s more expensive, it’s also worth more,” he said.
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He used Indiana as a prime example of how increased parity in college football contributes to higher program values. The Hoosiers’ value increased by nearly 68% year-over-year as they’ve gone from one of the worst programs in Division I to playing for the national championship seemingly overnight. It’s causing revenues and television ratings to rise, he said.
Fifteen programs were valued at over $1 billion, eight coming from the Southeastern Conference. Georgia came in at No. 7, Alabama at No. 9, Oklahoma at No. 11, Tennessee at No. 13 and Auburn at No. 14.
According to Brewer’s analysis, the Longhorns brought in $298 million in revenue, easily the most of any program, and $80 million more than Texas A&M.
The Dallas Cowboys topped Forbes’ NFL valuation list at $13 billion, followed by the Los Angeles Rams at $10.5 billion. The Cincinnati Bengals were last on the list, valued at $5.25 billion.
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