USA Today releases Top 25 revenue earning college athletic programs for 2022
USA Today has released a database with the total revenue figures for each college athletics program that reported data in 2022-23 and unsurprisingly the Big Ten and the SEC dominated the top of the list.
The combined revenue reported by the 13 public schools in each league topped $2 billion, with the SEC nudging out the Big Ten $2.17 billion to $2.04 billion.
But the Big Ten snagged the top spot on the annual total revenue list, with Ohio State leading the way.
The Buckeyes reported total revenue in excess of $251.6 million, while reporting total expenses of $225.1 million. Both figures led the pack in college athletics, though it’s worth noting that private schools were not included, leaving out programs like Duke, Miami, Notre Dame and USC.
The sheer surge in teams crossing the $150 million mark in total revenue in recent years is astounding.
There were 22 programs that topped the $150 million mark during the 2022-23 academic year. As a means of comparison, there were nine current SEC schools above the $150 million mark, compared to just one during the 2014-15 academic year.
And the financial dominance of the Big Ten and SEC isn’t likely to end any time soon, with both conferences having locked in lucrative TV deals that are set to result in a significant windfall for the league’s members.
Also of note in USA Today’s reporting is that two programs in the Top 25 for total revenue had expenses that outran revenue. Tennessee had about a $3 million gap, while Washington had about a $4 million gap.
You can see the complete Top 25 in total revenue below, courtesy of USA Today.
College Athletics Total Revenue – Top 25
| Rank | School | Total Revenue | Total Expenses |
| 1. | Ohio State | $251,615,345 | $225,733,418 |
| 2. | Texas | $239,290,648 | $225,153,011 |
| 3. | Alabama | $214,365,357 | $195,881,911 |
| 4. | Michigan | $210,652,287 | $193,559,375 |
| 5. | Georgia | $203,048,566 | $169,026,503 |
| 6. | LSU | $199,309,382 | $192,770,399 |
| 7. | Texas A&M | $193,139,619 | $177,671,900 |
| 8. | Florida | $190,417,139 | $174,365,070 |
| 9. | Penn State | $181,227,448 | $170,542,050 |
| 10. | Oklahoma | $177,320,217 | $175,997,457 |
| 11. | Auburn | $174,568,442 | $151, 590,763 |
| 12. | Michigan State | $172,799,513 | $156,449,795 |
| 13. | Indiana | $166,761,471 | $132,392,596 |
| 14. | Virginia | $161,916,231 | $150,584,173 |
| 15. | Florida State | $161,141,884 | $150,777,734 |
| 16. | Kentucky | $159,079,024 | $153,621,183 |
| 17. | Clemson | $158,283,618 | $143,356,820 |
| 18. | Tennessee | $154,566,935 | $157,108,637 |
| 19. | Oregon | $153,510,555 | $140,565,297 |
| 20. | Arkansas | $152,513,755 | $144,319,041 |
| 21. | Iowa | $151,483,092 | $151,144,861 |
| 22. | Wisconsin | $150,100,977 | $147,807,183 |
| 23. | Louisville | $146,225,965 | $139,978,927 |
| 24. | Illinois | $145,735,330 | $129,119,247 |
| 25. | Washington | $145,184,864 | $149,458,923 |