Texas leads nation with reported $2.2 billion valuation as worth of college football programs skyrocket
The Wall Street Journal has released its study on highest valuations within college football
•
2 min read
The estimated valuation of the Texas football program is nearly $2.2 billion, according to the Wall Street Journal's annual study of college football's wealthiest programs. Valuations have increased 46% year-over-year within the top 20 of the nation's top programs, a record during the NIL and revenue-sharing era ahead of Monday night's College Football Playoff National Championship Game featuring Indiana and Miami.
Ironically, neither of those programs rank among the highest valuations, as 15 teams exceeded $1 billion, including 14 from the SEC or Big Ten with Notre Dame being the outlier at No. 6 ($1.418 billion valuation). The Longhorns hold the highest adjusted revenue from 2025 at $298 million, followed by Texas A&M ($218 million), LSU ($213 million) and Nebraska ($197 million).
College football media rights recently crossed $4 billion, with ticket sales, alumni donations, licensing, ad contracts and conference distributions collectively helping make college athletics one of the world's biggest businesses.
The SEC and Big Ten, who hold voting power over other major conferences and Notre Dame, are going back and forth on the next round of playoff expansion with a deadline set for Friday. As of Monday, no agreement has been made for 2026 with the two leagues split on either a 16-team or 24-team bracket.
College football program valuations
Program | Adjusted revenue 2025 | Valuation |
1. Texas | $298,000,000 | $2.197 billion |
2. Texas A&M | $218,000,000 | $1.593 billion |
3. Ohio State | $185,000,000 | $1.547 billion |
4. LSU | $213,000,000 | $1.543 billion |
5. Michigan | $200,000,000 | $1.463 billion |
6. Notre Dame | $170,000,000 | $1.418 billion |
7. Georgia | $195,000,000 | $1.472 billion |
8. Penn State | $193,000,000 | $1.411 billion |
9. Alabama | $192,000,000 | $1.401 billion |
10. Nebraska | $197,000,000 | $1.236 billion |
11. Oklahoma | $160,000,000 | $1.153 billion |
12. Washington | $182,000,000 | $1.147 billion |
13. Tennessee | $177,000,000 | $1.114 billion |
14. Auburn | $175,000,000 | $1.101 billion |
15. Iowa | $162,000,000 | $1.017 billion |
16. USC | $161,000,000 | $999 million |
17. Florida | $155,000,000 | $978 million |
18. Wisconsin | $156,000,000 | $963 million |
19. Oregon | $139,000,000 | $873 million |
20. Colorado | $141,000,000 | $870 million |
Following last summer's landmark House v. NCAA antitrust settlement, the door was opened for the first time for millions of dollars to be shared between schools and players. Schools were allowed to share as much as $20.5 million of their revenues with players this season, with that figure reportedly being the floor of roster-spending with many exceeding that number.
Texas coach Steve Sarkisian dispelled "irresponsible reporting" of his roster nearing $40 million this season back in May 2025. Indiana coach Curt Cignetti told CBS Sports last spring that many of the top programs allocated tens of millions to their talent acquisition efforts.
Which 2025 College Football Playoff teams have the most money? Breaking down the field's NIL spending power
Carter Bahns
Prior to winning last season's national championship, Ohio State athletic director Ross Bjork confirmed the Buckeyes had one of the nation's highest-paid rosters. This came a few years after the NCAA began permitting NIL compensation in 2021, allowing athletes the ability to earn money through endorsements and third-party entities.
With one of the nation's largest athletic budgets, Ohio State was one of the early adopters of college football's new recruiting and player retention model and it worked to the Buckeyes' advantage.
Ohio State, Oregon, Texas Tech, Texas A&M and Miami are in a tier of their own when it comes to spending from this season's playoff field. Each of those programs has reloaded annually through the transfer portal, highlighted by the Red Raiders, who have garnered one of the new seats at the table thanks to spending.
Per the WSJ's study, Oregon ranked 19th in valuation for 2025 at $873 million. The Ducks were sandwiched between Wisconsin and Colorado to round out the top 20.
A quarter of the top 20 will have new coaches in 2026, including LSU (Lane Kiffin) and Penn State (Matt Campbell). The Tigers currently hold the top transfer class nationally ahead of Kiffin's first season, per 247Sports. That includes the acquisition of top-rated quarterback and No. 1 overall player Sam Leavitt (Arizona State) and fellow signal caller Husan Longstreet (USC).
