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CNBC Values Top College Programs at $51.22 Billion as Texas Overtakes Ohio State for No. 1

Escalating media rights deals with growing NIL spending push valuations higher.

Overview

  • CNBC released its 2025 valuations for the top 75 FBS athletic departments, putting their combined worth at $51.22 billion, up 13% year over year, using Department of Education and Knight-Newhouse revenue data with input from AthleticDirectorU.
  • Texas leads at an estimated $1.48 billion, nudging Ohio State to second at about $1.35 billion, with Texas A&M near $1.32 billion and Georgia and Michigan each around $1.16 billion.
  • The SEC claims 12 of the top 25 valuations, reflecting football-led media contracts and expanding NIL activity that are fueling financial growth across major programs.
  • BYU ranks 57th at $500 million, up 40% with $130 million in revenue, Utah is 60th at $451 million, down 4% with $110 million in revenue, and Rutgers is 56th at roughly $506 million with $137 million in revenue, a 10% increase and the lowest valuation in the Big Ten.
  • CNBC reported that Utah plans to accept private equity funding, with a $500 million investment from Otro Capital reported but not confirmed by university administrators.