The 23 state universities that make at least $125 million annually from their sports teams
Cork Gaines
- College sports make big money, but some schools earn a lot more than others.
- The SEC and Big Ten dominate the list of the schools that make the most money from sports.
When it comes to college sports, there is a huge divide between the haves and the have-nots.
Of the 1,062 colleges and universities that field varsity athletic teams under the banner of the NCAA, only 396 — fewer than half — made at least $10 million off their sports teams in 2022, the most recent year with available data. Among those schools, only 56 — about 5% — made at least $100 million.
And there is a clear class division among the top 127 Football Bowl Subdivision schools.
All of the "Power 5" conferences that make up the elite of college sports are represented among the top 23 athletics revenue-producing schools. However, 10 are from the football powerhouse Southeastern Conference, and six of the schools are from the recently expanded Big Ten Conference.
The remaining seven schools represent the Atlantic Coast Conference, the Big 12 Conference, and the Pac-12 Conference. However, two of those schools will be moving to the SEC, and one will join the Big Ten in 2024.
We used data made available by the US Department of Education and calculated the average revenue generated by athletic programs for the three most recent years available, 2020 through 2022. Major sources of income include conference television contracts divided among the member schools, sponsorships, and ticket sales.
We also looked at the average annual revenue for the three sports that typically generate the most: football, men's basketball, and women's basketball.
23. Indiana University
Conference: Big Ten
Average Annual Athletics Revenue: $126 million
Football Revenue: $50 million
Men's Basketball Revenue: $21 million
Women's Basketball Revenue: $3 million
22. University of Iowa
Conference: Big Ten
Average Annual Athletics Revenue: $129 million
Football Revenue: $70 million
Men's Basketball Revenue: $11 million
Women's Basketball Revenue: $2 million
21. University of Wisconsin
Conference: Big Ten
Average Annual Athletics Revenue: $130 million
Football Revenue: $75 million
Men's Basketball Revenue: $15 million
Women's Basketball Revenue: $680,000
20. University of Louisville
Conference: ACC
Average Annual Athletics Revenue: $130 million
Football Revenue: $36 million
Men's Basketball Revenue: $25 million
Women's Basketball Revenue: $4 million
19. Florida State University
Conference: ACC
Average Annual Athletics Revenue: $134 million
Football Revenue: $58 million
Men's Basketball Revenue: $12 million
Women's Basketball Revenue: $4 million
18. University of Kentucky
Conference: SEC
Average Annual Athletics Revenue: $135 million
Football Revenue: $36 million
Men's Basketball Revenue: $23 million
Women's Basketball Revenue: $3 million
17. University of Arkansas
Conference: SEC
Average Annual Athletics Revenue: $137 million
Football Revenue: $69 million
Men's Basketball Revenue: $19 million
Women's Basketball Revenue: $2 million
16. University of South Carolina
Conference: SEC
Average Annual Athletics Revenue: $139 million
Football Revenue: $59 million
Men's Basketball Revenue: $10 million
Women's Basketball Revenue: $6 million
15. Stanford University
Conference: Pac-12 (Will join ACC in 2024)
Average Annual Athletics Revenue: $139 million
Football Revenue: $39 million
Men's Basketball Revenue: $9 million
Women's Basketball Revenue: $6 million
14. University of Tennessee
Conference: SEC
Average Annual Athletics Revenue: $140 million
Football Revenue: $84 million
Men's Basketball Revenue: $16 million
Women's Basketball Revenue: $3 million
13. University of Southern California
Conference: Pac-12 (will join the Big Ten in 2024)
Average Annual Athletics Revenue: $146 million
Football Revenue: $51 million
Men's Basketball Revenue: $7 million
Women's Basketball Revenue: $4 million
12. University of Florida
Conference: SEC
Average Annual Athletics Revenue: $147 million
Football Revenue: $80 million
Men's Basketball Revenue: $11 million
Women's Basketball Revenue: $91,000
11. Penn State University
Conference: Big Ten
Average Annual Athletics Revenue: $148 million
Football Revenue: $64 million
Men's Basketball Revenue: $10 million
Women's Basketball Revenue: $1 million
10. Texas A&M University
Conference: SEC
Average Annual Athletics Revenue: $150 million
Football Revenue: $72 million
Men's Basketball Revenue: $13 million
Women's Basketball Revenue: $2 million
9. Auburn University
Conference: SEC
Average Annual Athletics Revenue: $152 million
Football Revenue: $85 million
Men's Basketball Revenue: $13 million
Women's Basketball Revenue: $2 million
8. Louisiana State University
Conference: SEC
Average Annual Athletics Revenue: $158 million
Football Revenue: $76 million
Men's Basketball Revenue: $9 million
Women's Basketball Revenue: $2 million
7. University of Oklahoma
Conference: Big 12 (will join the SEC in 2024)
Average Annual Athletics Revenue: $167 million
Football Revenue: $112 million
Men's Basketball Revenue: $12 million
Women's Basketball Revenue: $2 million
6. University of Notre Dame
Conference: ACC (independent in football)
Average Annual Athletics Revenue: $170 million
Football Revenue: $106 million
Men's Basketball Revenue: $8 million
Women's Basketball Revenue: $2 million
5. University of Michigan
Conference: Big Ten
Average Annual Athletics Revenue: $170 million
Football Revenue: $110 million
Men's Basketball Revenue: $17 million
Women's Basketball Revenue: $426,000 million
4. University of Alabama
Conference: SEC
Average Annual Athletics Revenue: $180 million
Football Revenue: $100 million
Men's Basketball Revenue: $16 million
Women's Basketball Revenue: $2 million
3. University of Georgia
Conference: SEC
Average Annual Athletics Revenue: $184 million
Football Revenue: $125 million
Men's Basketball Revenue: $10 million
Women's Basketball Revenue: $1 million
2. University of Texas
Conference: Big 12 (will join the SEC in 2024)
Average Annual Athletics Revenue: $191 million
Football Revenue: $134 million
Men's Basketball Revenue: $16 million
Women's Basketball Revenue: $2 million
1. Ohio State University
Conference: Big Ten
Average Annual Athletics Revenue: $204 million
Football Revenue: $90 million
Men's Basketball Revenue: $20 million
Women's Basketball Revenue: $2 million
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