It is no secret that the business of big-time college football requires some deep pockets, given that NIL/revenue sharing budgets are skyrocketing to close to $30 million per year.
But what would it take to actually buy an entire elite team on the open market?
The Athletic explored that very question in a story published Tuesday, drawing the conclusion that billions would be in the offing – with SEC powerhouse Texas the clubhouse leader at a valuation projection of $2.46 billion.
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At $2.3 billion, Big Ten power Ohio State isn’t far behind, and independent Notre Dame is worth $2.1 billion on the theoretical open market. Michigan rounds out the most expensive quartet at an estimated $2 billion in valuation.
SEC programs Georgia ($1.95 billion), Alabama ($1.8 billion), Oklahoma ($1.6 billion) and Tennessee ($1.57 billion) are also in the top 10.
The publication used actual transactions in professional leagues to compare a team’s sale price with its average revenue – treating the SEC and Big Ten like NFL and NBA franchises (which have higher ratios of revenue to sales price). The ACC and Big 12 were more like MLB and NHL clubs (which have lower ratios). In addition to using financial numbers reported by the schools themselves, The Athletic also considered factors such as brand power, demographics and conference realignment to settle on our valuation.
Texas topped The Athletic’s list last season as well at $2.38 billion. Georgia slipped three spots to No. 5 by only gaining 750 million in relative value from 2025.
How much would it take to buy an NCAA football team on the open market?We’re exploring theoretical sales prices, which are not the same as what teams are actually worth. pic.twitter.com/ofPkuAHsjF
— The Athletic (@TheAthletic) July 28, 20265 SEC football programs make The Athletic’s top 10 in projected valuation Saturday Down South.
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