UPDATE: Top 100 programs for ’10-’11 available here: 1-50, 51-100 (updated 12/29/11)
I’ve told you before that Louisville basketball is the 21st most profitable program in college athletics. I’ve shown you the football profits for every school in my Conference Finance Series. Now it’s time to take a look at the 50 most profitable programs in college athletics for the 2009-2010 school year:
| Rank | School | Revenue | Expenses | Profit |
| 1 | University of Texas (Football) | $93,942,815 | $25,112,331 | $68,830,484 |
| 2 | Univ. of Georgia (Football) | $70,838,539 | $18,308,654 | $52,529,885 |
| 3 | Penn State Univ. (Football) | $70,208,584 | $19,780,939 | $50,427,645 |
| 4 | Univ. of Michigan (Football) | $63,189,417 | $18,328,233 | $44,861,184 |
| 5 | Univ. of Florida (Football) | $68,715,750 | $24,457,557 | $44,258,193 |
| 6 | Louisiana State Univ. (Football) | $68,819,806 | $25,566,520 | $43,253,286 |
| 7 | Univ. of Alabama (Football) | $71,884,525 | $31,118,134 | $40,766,391 |
| 8 | Univ. of Tennessee (Football) | $56,593,946 | $17,357,345 | $39,236,601 |
| 9 | Auburn Univ. (Football) | $66,162,720 | $27,911,713 | $38,251,007 |
| 10 | University of Oklahoma (Football) | $58,295,888 | $20,150,769 | $38,145,119 |
| 11 | Univ. of South Carolina (Football) | $58,266,159 | $22,794,211 | $35,471,948 |
| 12 | Notre Dame (Football) | $64,163,063 | $29,490,788 | $34,672,275 |
| 13 | University of Nebraska (Football) | $49,928,228 | $17,843,849 | $32,084,379 |
| 14 | Ohio State Univ. (Football) | $63,750,000 | $31,763,036 | $31,986,964 |
| 15 | Univ. of Iowa (Football) | $45,854,764 | $18,468,732 | $27,386,032 |
| 16 | Michigan State Univ. (Football) | $44,462,659 | $17,468,458 | $26,994,201 |
| 17 | Univ. of Arkansas (Football) | $48,524,244 | $22,005,104 | $26,519,140 |
| 18 | Texas A&M (Football) | $41,915,428 | $16,599,798 | $25,315,630 |
| 19 | Univ. of Kentucky (Football) | $31,890,572 | $13,905,724 | $17,984,848 |
| 20 | Oklahoma State (Football) | $32,787,498 | $15,479,410 | $17,308,088 |
| 21 | University of Louisville (Basketball) | $25,890,003 | $9,089,769 | $16,800,234 |
| 22 | Univ. of Wisconsin (Football) | $38,662,971 | $22,041,491 | $16,621,480 |
| 23 | Univ. of Mississippi (Football) | $28,409,774 | $11,920,510 | $16,489,264 |
| 24 | West Virginia University (Football) | $29,467,612 | $14,330,236 | $15,137,376 |
| 25 | Univ. of Minnesota (Football) | $32,322,688 | $17,433,699 | $14,888,989 |
| 26 | Virginia Tech (Football) | $31,155,870 | $16,302,767 | $14,853,103 |
| 27 | Univ of Washington (Football) | $33,919,639 | $19,207,560 | $14,712,079 |
| 28 | Clemson Univ. (Football) | $30,994,503 | $16,305,528 | $14,688,975 |
| 29 | Duke (Basketball) | $26,667,056 | $12,286,475 | $14,380,581 |
| 30 | Univ. of Illinois (Football) | $25,301,783 | $11,092,122 | $14,209,661 |
| 31 | North Carolina (Basketball) | $20,551,168 | $6,647,459 | $13,903,709 |
| 32 | University of Colorado (Football) | $26,233,929 | $12,558,503 | $13,675,426 |
| 33 | Univ of Arizona (Basketball) | $19,285,038 | $5,806,535 | $13,478,503 |
| 34 | Ohio St. (Basketball) | $16,190,723 | $4,554,908 | $11,635,815 |
| 35 | University of Missouri (Football) | $25,378,066 | $13,759,649 | $11,618,417 |
| 36 | North Carolina State (Football) | $22,018,738 | $10,408,938 | $11,609,800 |
| 37 | Arizona State (Football) | $29,587,236 | $17,977,987 | $11,609,249 |
| 38 | Texas Tech (Football) | $26,201,009 | $14,688,382 | $11,512,627 |
| 39 | Univ of Oregon (Football) | $29,505,906 | $18,071,012 | $11,434,894 |
| 40 | Univ of Arizona (Football) | $24,398,253 | $13,685,931 | $10,712,322 |
| 41 | Syracuse University (Basketball) | $18,309,470 | $8,086,376 | $10,223,094 |
| 42 | Wisconsin (Basketball) | $17,666,311 | $7,539,418 | $10,126,893 |
| 43 | Illinois (Basketball) | $14,413,222 | $4,980,589 | $9,432,633 |
| 44 | Georgia Tech (Football) | $24,870,064 | $15,519,206 | $9,350,858 |
| 45 | Indiana Univ. (Football) | $21,783,185 | $12,822,779 | $8,960,406 |
| 46 | Indiana (Basketball) | $16,570,158 | $7,653,945 | $8,916,213 |
| 47 | Univ. of Arkansas (Basketball) | $15,515,830 | $6,839,213 | $8,676,617 |
| 48 | Univ of Southern California (Football) | $29,080,117 | $20,820,468 | $8,259,649 |
| 49 | Minnesota (Basketball) | $13,733,316 | $5,692,149 | $8,041,167 |
| 50 | Michigan St. (Basketball) | $16,138,167 | $8,250,450 | $7,887,717 |
Not only is Louisville basketball the most profitable basketball program in the country, it’s more profitable than the football program at any Big East school. It’s also more profitable than any football program in the ACC or Pac-10! Keep in mind, these numbers were for the season before Louisville basketball began play in a new arena.
The top ten consists of 2 Big 12 football teams, 2 Big Ten football teams and 6 SEC football teams. The ACC doesn’t have a team until Virginia Tech football at #26. The Pac-10 follows closely with Washington football at #27.
Twelve of the top fifty are basketball programs. I was actually surprised to see the number so high.
Ten of the twelve SEC football programs are in the top fifty. Only Mississippi State (76) and Vanderbilt (T-132) fell lower.
Nine of the eleven Big Ten football programs fall in the top fifty. All of the Big Ten football programs fall in the top 70, with Northwestern at #56 and Purdue at #63.
University of Oregon falls at 39 for football but is at the bottom of the list, living in the red, at #138 for basketball. They must have been saving up for the new artwork on the basketball court.
You can follow the jump for the complete list, but the football programs in the bottom thirty are all ACC or Big East, with the exception of SEC competitor Vanderbilt. This highlights a point I’ve been trying to make for awhile about how the divide between haves and have nots is not simply drawn at the line between AQ and non-AQ schools. There is vast disparity between teams in AQ conferences as well.
Follow the jump for the complete list….
| Rank | School | Revenue | Expenses | Profit |
| 1 | University of Texas (Football) | $93,942,815 | $25,112,331 | $68,830,484 |
| 2 | Univ. of Georgia (Football) | $70,838,539 | $18,308,654 | $52,529,885 |
| 3 | Penn State Univ. (Football) | $70,208,584 | $19,780,939 | $50,427,645 |
| 4 | Univ. of Michigan (Football) | $63,189,417 | $18,328,233 | $44,861,184 |
| 5 | Univ. of Florida (Football) | $68,715,750 | $24,457,557 | $44,258,193 |
| 6 | Louisiana State Univ. (Football) | $68,819,806 | $25,566,520 | $43,253,286 |
| 7 | Univ. of Alabama (Football) | $71,884,525 | $31,118,134 | $40,766,391 |
| 8 | Univ. of Tennessee (Football) | $56,593,946 | $17,357,345 | $39,236,601 |
| 9 | Auburn Univ. (Football) | $66,162,720 | $27,911,713 | $38,251,007 |
| 10 | University of Oklahoma (Football) | $58,295,888 | $20,150,769 | $38,145,119 |
| 11 | Univ. of South Carolina (Football) | $58,266,159 | $22,794,211 | $35,471,948 |
| 12 | Notre Dame (Football) | $64,163,063 | $29,490,788 | $34,672,275 |
| 13 | University of Nebraska (Football) | $49,928,228 | $17,843,849 | $32,084,379 |
| 14 | Ohio State Univ. (Football) | $63,750,000 | $31,763,036 | $31,986,964 |
| 15 | Univ. of Iowa (Football) | $45,854,764 | $18,468,732 | $27,386,032 |
| 16 | Michigan State Univ. (Football) | $44,462,659 | $17,468,458 | $26,994,201 |
| 17 | Univ. of Arkansas (Football) | $48,524,244 | $22,005,104 | $26,519,140 |
| 18 | Texas A&M (Football) | $41,915,428 | $16,599,798 | $25,315,630 |
| 19 | Univ. of Kentucky (Football) | $31,890,572 | $13,905,724 | $17,984,848 |
| 20 | Oklahoma State (Football) | $32,787,498 | $15,479,410 | $17,308,088 |
| 21 | University of Louisville (Basketball) | $25,890,003 | $9,089,769 | $16,800,234 |
| 22 | Univ. of Wisconsin (Football) | $38,662,971 | $22,041,491 | $16,621,480 |
| 23 | Univ. of Mississippi (Football) | $28,409,774 | $11,920,510 | $16,489,264 |
| 24 | West Virginia University (Football) | $29,467,612 | $14,330,236 | $15,137,376 |
| 25 | Univ. of Minnesota (Football) | $32,322,688 | $17,433,699 | $14,888,989 |
| 26 | Virginia Tech (Football) | $31,155,870 | $16,302,767 | $14,853,103 |
| 27 | Univ of Washington (Football) | $33,919,639 | $19,207,560 | $14,712,079 |
| 28 | Clemson Univ. (Football) | $30,994,503 | $16,305,528 | $14,688,975 |
| 29 | Duke (Basketball) | $26,667,056 | $12,286,475 | $14,380,581 |
| 30 | Univ. of Illinois (Football) | $25,301,783 | $11,092,122 | $14,209,661 |
| 31 | North Carolina (Basketball) | $20,551,168 | $6,647,459 | $13,903,709 |
| 32 | University of Colorado (Football) | $26,233,929 | $12,558,503 | $13,675,426 |
| 33 | Univ of Arizona (Basketball) | $19,285,038 | $5,806,535 | $13,478,503 |
| 34 | Ohio St. (Basketball) | $16,190,723 | $4,554,908 | $11,635,815 |
| 35 | University of Missouri (Football) | $25,378,066 | $13,759,649 | $11,618,417 |
| 36 | North Carolina State (Football) | $22,018,738 | $10,408,938 | $11,609,800 |
| 37 | Arizona State (Football) | $29,587,236 | $17,977,987 | $11,609,249 |
| 38 | Texas Tech (Football) | $26,201,009 | $14,688,382 | $11,512,627 |
| 39 | Univ of Oregon (Football) | $29,505,906 | $18,071,012 | $11,434,894 |
| 40 | Univ of Arizona (Football) | $24,398,253 | $13,685,931 | $10,712,322 |
| 41 | Syracuse University (Basketball) | $18,309,470 | $8,086,376 | $10,223,094 |
| 42 | Wisconsin (Basketball) | $17,666,311 | $7,539,418 | $10,126,893 |
| 43 | Illinois (Basketball) | $14,413,222 | $4,980,589 | $9,432,633 |
| 44 | Georgia Tech (Football) | $24,870,064 | $15,519,206 | $9,350,858 |
| 45 | Indiana Univ. (Football) | $21,783,185 | $12,822,779 | $8,960,406 |
| 46 | Indiana (Basketball) | $16,570,158 | $7,653,945 | $8,916,213 |
| 47 | Univ. of Arkansas (Basketball) | $15,515,830 | $6,839,213 | $8,676,617 |
| 48 | Univ of Southern California (Football) | $29,080,117 | $20,820,468 | $8,259,649 |
| 49 | Minnesota (Basketball) | $13,733,316 | $5,692,149 | $8,041,167 |
| 50 | Michigan St. (Basketball) | $16,138,167 | $8,250,450 | $7,887,717 |
| 51 | Univ. of North Carolina (Football) | $22,077,550 | $14,788,287 | $7,289,263 |
| 52 | North Carolina State (Basketball) | $10,354,157 | $3,104,152 | $7,250,005 |
| 53 | Oregon State (Football) | $19,056,237 | $11,981,026 | $7,075,211 |
| 54 | University of Pittsburgh (Basketball) | $13,117,849 | $6,046,724 | $7,071,125 |
| 55 | Univ of California, Los Angeles (Football) | $22,298,856 | $15,261,681 | $7,037,175 |
| 56 | Northwestern Univ. (Football) | $22,704,959 | $15,733,548 | $6,971,411 |
| 57 | West Virginia University (Basketball) | $13,306,654 | $6,377,761 | $6,928,893 |
| 58 | Univ. of Tennessee (Basketball) | $13,301,579 | $6,478,312 | $6,823,267 |
| 59 | Univ. of Miami (Football) | $24,631,029 | $17,863,218 | $6,767,811 |
| 60 | University of Texas (Basketball) | $15,602,348 | $8,887,250 | $6,715,098 |
| 61 | Iowa State (Football) | $19,974,924 | $13,368,441 | $6,606,483 |
| 62 | Kansas State (Football) | $17,570,624 | $11,157,789 | $6,412,835 |
| 63 | Purdue Univ. (Football) | $18,118,898 | $11,821,265 | $6,297,633 |
| 64 | Univ of Washington (Basketball) | $11,481,376 | $5,372,380 | $6,108,996 |
| 65 | Univ of California, Los Angeles (Basketball) | $12,353,487 | $6,277,088 | $6,076,399 |
| 66 | Univ of California, Berkeley (Football) | $24,421,437 | $18,519,523 | $5,901,914 |
| 67 | Northwestern (Basketball) | $10,048,801 | $4,158,854 | $5,889,947 |
| 68 | Marquette (Basketball) | $13,877,475 | $8,185,030 | $5,692,445 |
| 69 | Maryland (Basketball) | $10,739,282 | $5,160,381 | $5,578,901 |
| 70 | Georgia Tech (Basketball) | $9,143,914 | $3,873,987 | $5,269,927 |
| 71 | Univ. of Kentucky (Basketball) | $16,781,239 | $11,573,283 | $5,207,956 |
| 72 | Univ. of South Carolina (Basketball) | $9,190,794 | $4,023,386 | $5,167,408 |
| 73 | University of Kansas (Basketball) | $16,116,502 | $10,984,833 | $5,131,669 |
| 74 | University of Pittsburgh (Football) | $22,513,336 | $17,441,032 | $5,072,304 |
| 75 | Wake Forest (Basketball) | $9,064,780 | $4,196,104 | $4,868,676 |
| 76 | Mississippi State Univ. (Football) | $14,551,275 | $9,951,097 | $4,600,178 |
| 77 | Virginia Tech (Basketball) | $9,252,293 | $4,790,553 | $4,461,740 |
| 78 | University of South Florida (Football) | $16,562,391 | $12,177,182 | $4,385,209 |
| 79 | Univ. of Alabama (Basketball) | $10,766,327 | $6,410,262 | $4,356,065 |
| 80 | Penn St. (Basketball) | $8,384,315 | $4,147,124 | $4,237,191 |
| 81 | University of Missouri (Basketball) | $9,540,265 | $5,345,179 | $4,195,086 |
| 82 | Stanford University (Football) | $21,309,949 | $17,236,945 | $4,073,004 |
| 83 | Syracuse University (Football) | $19,152,691 | $15,300,740 | $3,851,951 |
| 84 | Univ. of Georgia (Basketball) | $8,331,515 | $4,509,622 | $3,821,893 |
| 85 | Mississippi State Univ. (Basketball) | $8,205,804 | $4,424,871 | $3,780,933 |
| 86 | Washington State (Football) | $12,754,541 | $9,181,495 | $3,573,046 |
| 87 | Iowa (Basketball) | $8,796,540 | $5,243,813 | $3,552,727 |
| 88 | Univ. of Mississippi (Basketball) | $6,821,532 | $3,305,823 | $3,515,709 |
| 89 | Michigan (Basketball) | $8,321,413 | $4,913,440 | $3,407,973 |
| 90 | University of Louisville (Football) | $15,537,276 | $12,222,307 | $3,314,969 |
| 91 | Univ. of Virginia (Football) | $19,004,653 | $15,927,675 | $3,076,978 |
| 92 | Arizona State (Basketball) | $8,591,421 | $5,527,849 | $3,063,572 |
| 93 | University of Oklahoma (Basketball) | $8,626,247 | $5,720,497 | $2,905,750 |
| 94 | Texas A&M (Basketball) | $8,853,325 | $5,961,139 | $2,892,186 |
| 95 | Clemson (Basketball) | $7,054,691 | $4,217,341 | $2,837,350 |
| 96 | Georgetown (Basketball) | $10,074,618 | $7,393,234 | $2,681,384 |
| 97 | Iowa State (Basketball) | $7,182,665 | $4,530,329 | $2,652,336 |
| 98 | Purdue (Basketball) | $7,791,967 | $5,171,495 | $2,620,472 |
| 99 | Florida State Univ. (Football) | $18,958,861 | $16,345,376 | $2,613,485 |
| 100 | Oklahoma State (Basketball) | $12,085,306 | $9,477,405 | $2,607,901 |
| 101 | Louisiana State Univ. (Basketball) | $6,767,009 | $4,195,336 | $2,571,673 |
| 102 | Miami (Basketball) | $7,081,121 | $4,651,481 | $2,429,640 |
| 103 | Virginia (Basketball) | $9,788,223 | $7,390,325 | $2,397,898 |
| 104 | Auburn Univ. (Basketball) | $9,588,191 | $7,234,287 | $2,353,904 |
| 105 | Univ. of Florida (Basketball) | $10,184,136 | $7,908,661 | $2,275,475 |
| 106 | Vanderbilt Univ. (Basketball) | $9,182,578 | $6,930,433 | $2,252,145 |
| 107 | Kansas State (Basketball) | $7,259,800 | $5,124,051 | $2,135,749 |
| 108 | University of Nebraska (Basketball) | $6,022,208 | $4,104,289 | $1,917,919 |
| 109 | Baylor University (Football) | $14,355,322 | $12,462,241 | $1,893,081 |
| 110 | Stanford University (Basketball) | $6,191,021 | $4,380,416 | $1,810,605 |
| 111 | Duke University (Football) | $16,109,324 | $14,312,863 | $1,796,461 |
| 112 | Providence (Basketball) | $6,460,838 | $4,696,862 | $1,763,976 |
| 113 | University of Cincinnati (Football) | $13,325,304 | $11,599,780 | $1,725,524 |
| 114 | Univ. of Maryland (Football) | $11,540,368 | $9,863,748 | $1,676,620 |
| 115 | Texas Tech (Basketball) | $5,092,921 | $3,422,404 | $1,670,517 |
| 116 | University of Kansas (Football) | $17,885,176 | $16,270,250 | $1,614,926 |
| 117 | Villanova (Basketball) | $7,652,470 | $6,117,021 | $1,535,449 |
| 118 | University of South Florida (Basketball) | $4,588,627 | $3,215,424 | $1,373,203 |
| 119 | Oregon State (Basketball) | $4,938,930 | $3,675,571 | $1,263,359 |
| 120 | Boston College (Football) | $19,184,902 | $17,973,705 | $1,211,197 |
| 121 | University of Cincinnati (Basketball) | $4,927,771 | $3,754,077 | $1,173,694 |
| 122 | Univ of California, Berkeley (Basketball) | $6,967,208 | $5,816,679 | $1,150,529 |
| 123 | UCONN (Basketball) | $7,745,145 | $6,940,903 | $804,242 |
| 124 | Florida St (Basketball) | $5,756,857 | $5,126,393 | $630,464 |
| 125 | Washington State (Basketball) | $3,544,745 | $3,158,178 | $386,567 |
| 126 | Rutgers University (Basketball) | $4,634,026 | $4,495,147 | $138,879 |
| 127 | UCONN (Football) | $14,400,371 | $14,400,371 | $0 |
| 128 | Vanderbilt Univ. (Football) | $14,152,061 | $14,152,061 | $0 |
| 129 | Boston College (Basketball) | $8,026,369 | $8,026,369 | $0 |
| 130 | DePaul (Basketball) | $6,528,661 | $6,528,661 | $0 |
| 131 | Seton Hall (Basketball) | $6,215,923 | $6,215,923 | $0 |
| 132 | St. John’s (Basketball) | $6,741,298 | $6,741,298 | $0 |
| 133 | Rutgers University (Football) | $19,494,261 | $19,494,263 | ($2) |
| 134 | Notre Dame (Basketball) | $4,051,468 | $4,060,565 | ($9,097) |
| 135 | Baylor University (Basketball) | $5,737,350 | $5,830,311 | ($92,961) |
| 136 | University of Colorado (Basketball) | $3,587,371 | $3,811,877 | ($224,506) |
| 137 | Univ of Southern California (Basketball) | $3,535,629 | $4,548,364 | ($1,012,735) |
| 138 | Univ of Oregon (Basketball) | $3,240,150 | $5,491,846 | ($2,251,696) |
| 139 | Wake Forest University (Football) | $10,227,922 | $12,517,505 | ($2,289,583) |
Note: The data in these charts is from reports filed by each school with the U.S. Department of Education. As always when I post U.S. Department of Education data, I must warn you that although there are guidelines for how to report revenue and expenses, there is some wiggle room in terms of how to attribute facilities costs and broadcasting revenue. These are the only numbers available for every school, however, because private schools are not subject to public records requests but do have to file their data with the U.S. Department of Education.
Thanks to my research assistant Spencer Anderson for helping me compile this great data!
About Kristi Dosh
Kristi A. Dosh is the founder of BusinessofCollegeSports.com and has served as a sports business analyst and contributor for outlets such as Forbes, ESPN, SportsBusiness Journal, Bleacher Report, SB Nation and more. She is also the author of a book on the business of college football, Saturday Millionaires. Kristi is a sought-after consultant and speaker on topics related to the business of college sports and a former practicing attorney. Click to learn more- 2021 March Madness Payouts from Men’s Basketball Tournament Impacted by 2020 - March 27, 2021
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