The Athletic ranks Big Ten Football programs from most valuable to least ahead of 2025 season

The Athletic ranked every Big Ten football program from the most valuable to the least valuable going into the 2025 college football season. If you had a chance to buy a franchise, or in this case, a college program, they gave you estimated prices!

The Athletic used a methodology that contained real life pro transactions over the last three years, leading to NFL and NBA sales to ratios for SEC and Big Ten schools. MLB and NHL values were the rough benchmarks for the ACC and BIg 12. All Power Four schools, and Notre Dame, The Athletic favored in prestige, championships, facilities, population, realignment scenarios in these values.

Not to mention, the values are what each individual team would sell for, not necessarily their exact value. So without further ado, let’s dive into what The Athletic sees for the Big Ten’s most valuable football programs. You’ll see the national ranking in parentheses.

1. Ohio State (3): $1.90 billion

The Athletic called Ohio State, practically, recession proof these days. The Buckeyes just won the national title and have more home games compared to just six in 2023, giving them more revenue. 

It seemed like they’d be outside the top five most valuable college football programs, but they were bumped up to the top three and rank No. 1 among Big Ten programs.

2. Michigan (5): $1.83 billion

You can’t say the brand of Ohio State without Michigan right? The Athletic ranked the Wolverines at the tail end of the top five overall, to nearly no one’s surprise.

According to the report, Michigan boasts the largest stadium and the largest fan base across the country. As far as college football programs go, the Wolverines are behind Ohio State due to consistency on the field over the course of the last decade plus, as well as the population of the state, but the on-field results recently gave them a huge boost. Heck, can you imagine if the Wolverines beat the Buckeyes for a fifth straight year?

3. USC (8): $1.40 billion

The Athletic used a bit of a caveat here, saying the Trojans are basically trading in Pac-12 payouts for the Big Ten revenue share. That’s a big difference to add onto their brand, despite average to above-average success since their dominance in the mid 2000s.

The brand power is strong, as is the LA market and population. Ultimately, the outlet has them near the top of the Big Ten and nationwide. They’re a top 10 brand and the power translated in a new conference. They just need to get back on the upswing on the field.

4. Penn State (11): $1.20 billion

Penn State is in the top five within the Big Ten and just outside the Top 10 overall. With upgrades coming to Beaver Stadium, the value is sure to go up.

Yes, it’ll cost $700 million to get those upgrades, as The Athletic reported, but it’ll be worth the investment. Winning a national championship this year could also bump them up multiple lists next year and beyond.

5. Oregon (14): $990 million

Rounding out the top five is Oregon, which is the top program that has yet to win a national title in football on The Athletic’s list. Like USC, the Big Ten newcomers are one of the more valuable programs in the country.

It certainly helps that Nike is the main driving force in terms of branding. Already winning the Big Ten last year was a boost as well. They should remain consistent in value for years.

6. Washington (16): $970 million

Washington also has no full Big Ten payday, like Oregon, until 2030. But, that didn’t affect the overall value of the Huskies’ program.

They are within the top 10 of the conference and top 20 nationally. The CFP appearances help, as well as the population of Seattle. That can be both positive and negative, considering Washington’s value might be lower due to others like the Seahawks, Mariners and Kraken. Boy, just wait til an NBA franchise returns!

7. Nebraska (17): $930 million

The Huskers bring in a lot of revenue, with their average being $116.3 million per The Athletic. However, the on-field success has been lacking considering they haven’t finished ranked since 2012 and are nearly 30 years removed from a national title.

Still, the fans are passionate and dedicated, which can be classified as some of the best in the Big Ten. But as the outlet puts it, this is a risky investment if you were to purchase the program like a pro franchise.

8. Wisconsin (19): $801 million

Wisconsin actually generates over $100 million a year in revenue, but everyone below them is under that mark. So that’s the good news for this traditional Big Ten program.

However, as The Athletic points out, the Badgers historically don’t have the tradition of Nebraska or the upside of Washington right now. The floor is still high, so Wisconsin could climb the list by becoming highly successful on the field again.

9. Iowa (20): $709 million

The Hawkeyes are in the back end of the top 10 of Big Ten programs on this list. There’s no doubt Iowa is valuable, but they are in the middle of the pack of the conference.

That’s kind of like their football success. They are highly consistent with a chance at a standout season. But this is no bad investment!

10. Michigan State: (21): $708 million

The Athletic called Iowa and Michigan State virtually the same when it comes to on-field results and revenue. Funny enough, they played for a Big Ten title in 2015! We are a long way from that aren’t we?

When coming up with a price, the outlet mentioned their on-field success prior and after that meeting is pretty much the same. The Spartans price point is on par with MLS franchises 

The Athletic ranks value of Big Ten Football programs

11. Minnesota: (28): $562 million
12. Northwestern: (35): $406 million
13. Illinois: (36): $405 million
14. Indiana: (38): $386 million
15. Purdue: (41): $367 million
16. UCLA: (T-43): $340 million
17. Maryland: (52): $288 million
18. Rutgers: (62): $188 million