CNBC has released its ranking of the 75 most valuable college athletic programs, with USC leading the way for California schools. The list, which used a revenue multiple of four to calculate valuations, considers factors like TV revenue, alumni and fan bases, Name, Image, and Likeness (NIL) deals, and school subsidies.
CNBC unveiled its list of the top-75 most valuable college athletic programs. USC was the top California school in the new CNBC ranking of the 75 most valuable college athletic programs in 2024. The CNBC rankings, topped by Ohio State University, estimated valuations of the top athletic programs ranging from about $150 million to an astounding $1.3 billion, after speaking with sports bankers and people looking to invest into college athletic programs.
The valuations were then calculated with a revenue multiple of four. That figure was adjusted up or down based on factors like TV revenue, size of alumni and fan bases, value of Name Image Likeness (NIL) deals and the program's reliance on subsidies from students or the school.Programs from the two powerhouse conferences, the SEC and Big Ten, performed the strongest, reflecting their lucrative TV deals, Ozanian said. Programs from the two powerhouse conferences made up 21 of the top 22 spots. The ranking offers insight into how programs would fare if private equity and venture capital enterprises, such as College Sports Tomorrow, Smash Capital and Collegiate Athletics Solutions, were to buy in to college athletic programs. Such arrangements are common in professional sports, but have gained more attention among college programs. 'I think that's one of the things private equity is looking at and why we did these valuations,' Ozanian said,'I think they're looking at the pros and saying, 'Geez, when you look at the interest in college football… that passion and that fan base is there, we can make more money from these things.''One factor in particular, Ozanian said, knocked USC out of the top 10 to No. 12. '(That's) very strong. Two hundred and twelve million dollars in revenue, again one of the few private schools that we have,' Ozanian said.'Where they do very well is in NIL. They're in the upper third of all the schools we looked a
College Sports USC UCLA Valuations NIL Deals Revenue Private Equity
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