Billion-dollar media deals have propelled SEC and Big Ten universities to the top of the most lucrative college athletic programs in the country, according to valuations by CNBC.
The media network pulled valuations and annual revenue numbers from the Department of Education, the Knight Commission on Intercollegiate Athletics and a prolific NIL consultant to compile this list. Game attendance, alumni and fan bases, and school subsidies were among the metrics analyzed, but the most influential number was the media rights deal of a university’s conference.
The Big Ten secured a $7 billion media deal in 2023 with CBS, NBC and FOX, which lasts through the 2029-30 athletic year. The current 2024-25 season kicked off the SEC’s 10-year, $3 billion deal with Disney, which owns ABC and ESPN. Of the 20 universities featured on this list, 11 hail from the SEC, seven from the Big Ten and two from the ACC.
Other interesting facts about the top 20 most lucrative athletic programs include:
- Four schools were valued at over $1 billion
- University of Notre Dame and University of Southern California are the only two private schools.
- The states of Texas and Alabama each had two institutions on this list.
- No school from the Big 12 made this list. The conference’s top performer, Texas Tech University, ranked 33 on CNBC’s extended list.
| Rank | Program | Valuation | Revenue* | Conference |
| 1. | Ohio State University | $1.32B | $280M | Big Ten |
| 2. | University of Texas at Austin | $1.28B | $271M | SEC |
| 3. | Texas A&M University | $1.26B | $279M | SEC |
| 4. | University of Michigan | $1.06B | $230M | Big Ten |
| 5. | University of Alabama | $978M | $200M | SEC |
| 6. | University of Notre Dame | $969M | $224M | ACC |
| 7. | University of Georgia | $950M | $210M | SEC |
| 8. | University of Nebraska | $943M | $205M | Big Ten |
| 9. | University of Tennessee | $940M | $202M | SEC |
| 10. | University of Oklahoma | $928M | $199M | SEC |
| 11. | Penn State University | $924M | $202M | Big Ten |
| 12. | University of Southern California | $923M | $212M | Big Ten |
| 13. | Louisiana State University | $916M | $200M | SEC |
| 14. | University of Florida | $865M | $189M | SEC |
| 15. | University of Wisconsin | $838M | $198M | Big Ten |
| 16. | Clemson University | $800M | $196M | ACC |
| 17. | University of Oregon | $780M | $151M | Big Ten |
| 18. | University of Arkansas | $776M | $167M | SEC |
| 19. | University of Kentucky | $775M | $174M | SEC |
| 20. | Auburn University | $772M | $195M | SEC |
*Revenue figures are from fiscal year 2023.
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