Despite no national championship in 20 years, the University of Texas Longhorns, a 132-year-old football program, is America’s most valuable college football team, valued at $2.38 billion, according to The Athletic’s recent estimates—nearly half a billion more than the second-place Georgia Bulldogs.
The Athletic’s valuation, described as a mix of “back-of-the-envelope math” and “common sense,” reflects the Longhorns’ financial dominance. Over the past three years, Texas averaged $183 million in annual revenue, peaking last season as the only program to exceed $200 million in sales.
By contrast, Georgia averaged $147 million annually, and Ohio State, ranked third, posted $116 million.
The Athletic noted its boldest assumption with USC, whose $73 million average annual revenue suggests a $900 million valuation, but was adjusted to $1.4 billion to account for Big Ten revenue shares, USC’s brand strength, Los Angeles market, and other financial factors.