Texas and Georgia Dominate College Football Valuations, Leading the Nation in What Programs Could Sell for Like NFL Franchises
College football has long been one of the most passionate and profitable sports in the United States. But recent financial estimates have painted a striking picture of just how valuable the top programs have become—especially when viewed through the lens of professional sports franchises. According to new research and valuations conducted by leading financial analysts, the University of Texas and the University of Georgia have emerged as the two most valuable programs in the country, with hypothetical price tags that would rival or exceed those of many NFL teams.
The concept of valuing college football programs in the same way professional franchises are assessed is still relatively new but increasingly relevant. With skyrocketing television contracts, ever-expanding donor networks, powerful alumni associations, and now Name, Image, and Likeness (NIL) deals, top-tier college football programs are inching closer to the kind of revenue generation—and structural complexity—traditionally associated with the NFL. As a result, analysts have begun applying similar valuation models to gauge what these powerhouse programs might fetch if they could be sold like a private sports team.
At the top of the list sits the University of Texas Longhorns. Their valuation was estimated at more than $1.1 billion, a staggering figure that underscores the unmatched scale and reach of the Texas brand. From ticket sales and merchandising to media rights and athletic department revenue, Texas has leveraged its vast alumni base, football tradition, and geographic location to build what many consider the most formidable financial empire in college athletics.
Right behind them, the Georgia Bulldogs have also surged in value, estimated at just under $1 billion. Georgia’s back-to-back national championships in 2021 and 2022, combined with its dominant SEC presence, modern facilities, and elite recruiting classes, have made the Bulldogs not only a football juggernaut but a business one as well.
The methodology behind these valuations is complex, incorporating a mix of revenue streams including gate receipts, television and media deals, brand equity, booster contributions, merchandise sales, licensing rights, and new NIL-related income. For example, the Texas program benefits from an exclusive apparel deal with Nike and its own television platform, the Longhorn Network—although that is set to be absorbed into ESPN as Texas moves into the SEC. Meanwhile, Georgia’s dominance on the field and growing appeal among national sponsors has significantly increased its commercial reach.
When analysts compare these programs to NFL teams, the results are eye-opening. Several NFL franchises, particularly in smaller markets, are currently valued in the same ballpark as Texas and Georgia. The Jacksonville Jaguars, for instance, are worth just over $1.5 billion according to recent estimates—only slightly higher than what Texas could fetch in a hypothetical sale. And when one considers that college programs do not pay players traditional salaries (though NIL has changed the equation), the operating profit margins of these football giants can actually exceed those of their NFL counterparts.
But while Texas and Georgia sit at the top, other programs also scored high in the valuation rankings. Schools like Alabama, Ohio State, Michigan, LSU, and Notre Dame all saw valuations exceeding $800 million. These universities represent the upper crust of college football—programs that combine historic success with national reach and unwavering fan support.
It’s important to note that unlike the NFL, where the league controls most revenue-sharing policies, college football revenue distribution varies widely. The SEC and Big Ten, in particular, have struck billion-dollar media deals with networks like ESPN, CBS, NBC, and FOX, giving their member schools a significant edge. Texas and Georgia both benefit from these arrangements and are poised to earn even more as playoff expansion brings in additional revenue.
The name, image, and likeness (NIL) era has also added another layer of financial complexity. Top players at programs like Texas and Georgia are now able to secure six- and even seven-figure endorsement deals, often facilitated by school-affiliated collectives or wealthy boosters. This creates a quasi-professional environment that further blurs the line between college athletics and the NFL, and by extension, boosts program value. Schools that can attract and retain top talent under NIL conditions naturally become more competitive and more valuable in turn.
Another factor contributing to the sky-high valuations is donor support. The University of Texas boasts one of the wealthiest alumni bases in the nation, with deep pockets and a strong willingness to invest in athletics. Their new $375 million football facility, including state-of-the-art training rooms and recruiting lounges, is just the latest example of the money pouring into the program. Georgia, meanwhile, has aggressively expanded its athletic infrastructure as well, with recent renovations to Sanford Stadium and a commitment to maintaining one of the top recruiting operations in the country.
These investments are more than cosmetic—they’re business decisions aimed at driving performance, recruiting elite talent, and increasing brand prestige. Winning, after all, is the greatest marketing tool in sports. As Georgia’s recent national championships have shown, success on the field translates into increased applications, higher fundraising, and national exposure that can affect the university’s reputation far beyond athletics.
One of the most fascinating aspects of these valuations is the hypothetical: what would happen if college football programs could actually be sold? In reality, they can’t be—college teams are technically nonprofit entities housed within larger academic institutions. But imagining a world where Texas could be sold for $1.1 billion or Georgia for $950 million offers a new way to understand just how massive the business of college football has become.
Critics, however, point out the potential downsides of such commercialization. Some argue that skyrocketing athletic spending comes at the expense of academic priorities. Others worry that college football is becoming too professionalized, with NIL, TV money, and transfer portal chaos threatening the integrity of the sport. Still, most fans continue to support their programs passionately, especially when the on-field product meets expectations.
There’s also the question of sustainability. Can these programs continue to grow in value indefinitely? Or will a saturation point be reached? With conference realignment accelerating, and mega-conferences like the SEC and Big Ten poised to dominate the sport, some fear a future where only a dozen or so programs remain nationally competitive, while others struggle to keep up.
Even so, the numbers don’t lie: college football is more profitable, more popular, and more professionally run than ever before. And at the heart of that evolution are programs like Texas and Georgia, who have managed to balance tradition with innovation, passion with professionalism.
For Texas, their future in the SEC only strengthens their brand. The Longhorns will now face rivals like Alabama, LSU, and yes, Georgia, on a regular basis, boosting television ratings and revenue potential. The stakes will be higher, but so too will the rewards. With their deep pockets, strong recruiting, and modern facilities, Texas is well-positioned to finally match their financial dominance with consistent on-field success.
Georgia, on the other hand, is already living that dream. Their program has become the standard for what college football excellence looks like in the 2020s. From player development to recruiting infrastructure, from coaching stability to national brand presence, Georgia has constructed a blueprint that others are scrambling to replicate.
The future of college football may be uncertain in some respects, but one thing is abundantly clear: the financial powerhouses at the top aren’t going anywhere. If anything, they’re becoming more entrenched, more valuable, and more influential with each passing season.
So while no one will be cutting a $1 billion check for the Longhorns or Bulldogs anytime soon, the idea that such valuations are even conceivable is a testament to the magnitude of what college football has become. It’s no longer just a Saturday pastime—it’s a billion-dollar enterprise. And right now, Texas and Georgia are sitting at the top of the mountain.
