Utah, BYU Among Top 35 Most Valuable Football Programs

SALT LAKE CITY — On Thursday, The Wall Street Journal and Ryan Brewer released a fascinating ranking of college football programs. Rather than assessing the on-field product, Brewer and the WSJ ranked the worth of each program.

An associate professor of finance at Indiana University, Colombus performed valuations of all FBS programs across the country. The analysis premise was this: If these programs could be sold like professional franchises, how much would they be worth?

Ohio State topped the list with a valuation of $1.957 billion, followed by Texas at $1.897 billion and Michigan at 1.655 billion. Those three programs are out in front by a considerable amount, nearly double No. 10 on the list, Oklahoma.

Utah, BYU Top 35 Most Valuable Football Programs

So, where did Utah and BYU land on the list? According to Brewer, the University of Utah football program has the 28th-highest valuation in the country, at $425 million.

The Utes have established themselves as one of the more successful programs over the past ten years, which clearly reflects their rise. Kyle Whittingham’s program won consecutive conference championships in 2021 and 2022, resulting in two Rose Bowl trips. This followed two previous trips to the conference championship game in 2018 and 2019.

Utah has invested heavily in the football program, and there is a focus on continuing to invest in it moving forward. The football program’s success has been felt throughout the school’s entire campus. That success has given the university significant exposure to the country, leading to greater interest in the school. Student enrollment numbers have consistently set new all-time highs, and the campus is evolving to accommodate more students.

BYU has the 35th-highest valuation, at $366 million. The Cougars’ move to a Power Conference has been good for the program, and this season’s success will benefit them as they continue to invest in it. The Cougars will be viewed as a top contender in 2025, which will lead to greater exposure for Kalani Sitake’s program.

What About The Rest Of The Big 12?

Within the Big 12 Conference, Utah is the second-highest-ranked program, while BYU is sixth. Surprisingly, Kansas holds the top evaluation in the conference. Here’s a rundown of the entire Big 12 and their perceived value:

• No. 17 Kansas – $649 million
• No. 28 Utah – $425 million
• No. 29 Kansas $420 million
• No. 32 Texas Tech – $389 million
• No. 34 Colorado – $378 million
• No. 35 BYU – $366 million
• No. 36 TCU – $348 million
• No. 41 Iowa State – $324 million
• No. 42 Oklahoma State – $324 million
• No. 45 Arizona – $299 million
• No. 60 Baylor – $183 million
• No. 62 Arizona State – $176 million
• No. 64 UCF – $132 million
• No. 68 Cincinnati – $92 million
• No. 70 Houston – $90 million
• No. 82 West Virginia – $48 million

The analysis reviewed several years of data, focusing on top-line revenues, cash flow growth, projections, and sustainability. Although the primary focus was football, it effectively compared athletic departments overall.

Steve Bartle is the Utah insider for KSL Sports. He hosts The Utah Blockcast (SUBSCRIBE) and appears on KSL Sports Zone to break down the Utes. You can follow him on X for the latest Utah updates and game analysis.

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