After suffering a heartbreaking loss against their fiercest rival, Michigan Wolverines (marking their fourth straight defeat against the team), the Buckeyes were almost expected to take a downward trajectory. However, not only did Ryan Day prove his detractors wrong by delivering three double digit wins against Top-10 teams, including unbeaten and top-ranked Oregon, there’s more reason to celebrate for Ohio State, it seems. In a fashion that can only be described as commendable, the college’s athletic roster has brought about a massive triumph…

On January 10, boardroom—a sports, media and entertainment brand co-founded by NBA superstar Kevin Durant—citing CNBC, reported on Instagram that OSU has topped the rankings for “Most Valuable College Athletic Programs” with a massive $1.32 billion in valuation. “It’s no surprise the top of the list has been dominated by SEC and Big Ten schools considering the massive media rights deals they’ve managed to land.⁠ The Ohio State Buckeyes had $280 million in revenue in 2023, the most of any school.⁠ These top programs rely on their large alumni/fan bases, booster donations, and massive attendance turnouts, per @cnbc,” the caption read.

Surprisingly, or unsurprisingly—you decide—University of Texas at Austin fell behind to second position with a valuation of $1.28 billion, followed by Texas A&M University ($1.26 billion), University of Michigan (wink wink!) at $1.06 billion, and University of Alabama ($978 million). To dig a little deeper…

As per an official press release from Ohio State in January last year, the university reported a record revenue of $279,549,337 in fiscal year 2023. “Revenue for the year running from July 1, 2022, to June 30, 2023, increased 11% from the previous fiscal year’s record $251,615,345, according to an annual financial report filed each year with the NCAA,” the statement read further. Notably, the revenue also includes $73.3 million in total ticket sales, out of which $64.3 million were from football alone!

Other sources of revenue include a media rights deal (radio, television and digital) worth $49,796,025 in FY 2023, up from $48,908,898 million in FY 2022. So, naturally, the management was exhilarated. “Ohio State athletics remain on a rock-solid foundation thanks to the tremendous support from our fans, students and alumni. They continue to show up, tune in and support our student-athletes, coaches and staff at our fields, stadiums and arenas,” said Gene Smith, senior vice president and Wolfe Foundation endowed athletic director.

For the unversed, OSU—which receives no tuition or tax dollars—boasts one of the largest athletic departments in the country, with “6 men’s teams, 17 women’s teams, three mixed teams and approximately 1,000 student-athletes”. The university also enjoys a huge alumni base of 600,000+ individuals, and a wild 11.26 million fans (topping the list for biggest fan bases in college football) as per a report from Sports Illustrated in 2022. But that’s all about 2023. Wait till you hear about their achievements in 2024!

As per Brett Scarbrough, the senior associate athletic director for ticketing and premium seating, and reported by The Columbus Dispatch, OSU reported a massive 56,998 season tickets for just eight games in Fall 2024—the highest for the school in at least 15 years. The sale which ended in June 2024, was also slightly higher than the 56,484 non-student season tickets sold in 2022 (the highest at the time since 2009).

Having said that, the Ohio State football team has been a major contributor to their billion-dollar net worth this past season. And they should. They have some of the most coveted players on their roster, including true freshman WR Jeremiah Smith and RB Quinshon Judkins, both of whom have shown incredible talent. Still, the multi-million dollar roster couldn’t win them in their big rivalry against Michigan as they fell 13-10. But, hey, they sit on top of the Wolverines now. And with the Texas win in the Cotton Bowl, their value rises. 

Ohio State football’s $2.5 million contribution

Texas fell victim of Ohio State’s formidable defense inside AT&T Stadium on Saturday. One of the standout plays by the Buckeyes occurred in the final minutes of the game when the Longhorns could’ve made a fourth-and-goal at their 1-yard line to take the game to overtime. But it was DB Jack Sawyer’s decisive intervention that turned the game around. He sacked Quinn Ewers on a forced fumble to recover it for an 83-yard TD opportunity to close the game 28-14. 

Ohio State brought in $6 million from their CFP semifinal victory, bringing the Big Ten’s playoff total earnings to $46 million. But after splitting it across 18 conference members, Ohio State cashed in $2.5 million to remain at the top of the value picture. 

Surely not as much of a wow factor as Notre Dame cashing in the whole $20 million for themselves for being an independent team. But this definitely boosts OSU’s financial situation for the bigger picture.