Ranking college sports programs by revenue: Big Ten, SEC in the lead

College football is still king, but NCAA sports overall remain a cash cow for schools. Here are the new rankings for top schools after last season.

The updated rankings for the college sports programs that made the most money in the last year. / USA Today Sports | IMAGN

College football and sports overall remain a business and, when you look at the receipts from each passing year, it's a more lucrative business than ever before. According to the numbers from financial reporting released by Sportico, it's a good time to be a member of the Big Ten or the SEC.

A year ago, the NCAA brought in nearly $1.3 billion in revenue, with most of that number -- $945 million to be exact -- coming expectedly from media deals, and half of the total figure was distributed back to its Division I members.

Athletic departments across the country handed in their financial reports to the NCAA for the 2023 fiscal year, and the numbers were stunning. Nine schools made over $200 million, compared to five athletic programs that crossed that threshold the year before.

Football predictably led the way among all college sports, with men's basketball coming in second, and, as expected, the SEC and Big Ten lead among the schools making the most money.

Ranking College Sports Programs by Revenue

2023 numbers via Sportico

10. Alabama

Gary Cosby-USA TODAY Sports

2023 revenue: $199,913,763

Need to know: A notable drop for the Crimson Tide, which placed No. 3 in these rankings a year ago, and that was despite making the College Football Playoff in Nick Saban's final season. Men's basketball receipts grew by $1 million, but football tickets fell by $3 million.

9. LSU

Matt Pendleton-USA TODAY Sports

2023 revenue: $200,476,979

Need to know: Also a noted fall for an SEC school after LSU was No. 6 in these rankings last year, despite a rise of about $3 million in football ticket sales. Another big gain was women's basketball, which won the national championship in 2023.

8. Tennessee

Charles LeClaire-USA TODAY Sports

2023 revenue: $202,097,305

Need to know: A huge jump for Big Orange from No. 18 into the top-10 after a big year in football revenue despite taking a step back on the field. The school brought in a reported $62 million in donations a year ago, almost doubling the amount from the year before.

7. Penn State

Matthew OHaren-USA TODAY Sports

2023 revenue: $202,200,023

Need to know: Football and basketball remain major programs with solid foundations right now, especially the Nittany Lions' football team, which remains on a shortlist of potential College Football Playoff gate-crashers this season, returning one of the more experienced and talented rosters in the Big Ten.

6. Nebraska

Dylan Widger-USA TODAY Sports

2023 revenue: $204,831,356

Need to know: A newcomer to the top 10 of these rankings after a big jump from No. 26 a year ago, the Cornhuskers recorded a marked increase in football revenue in Matt Rhule's debut season, and brought in a ton more donations.

5. Georgia

USA Today Sports | Imagn

2023 revenue: $210,108,069

Need to know: Georgia has placed in the top 10 in each of the last six years of these rankings, and last year made about $2 million more in football tickets as back-to-back defending national champions, and heading into 2024 as the odds-on favorites to win another title.

4. Michigan

Brad Mills-USA TODAY Sports

2023 revenue: $229,561,279

Need to know: College football's defending national champions saw a jump in revenue on the gridiron to $142.7 million and saw a $10 million increase in football ticket sales. That's a solid foundation for new coach Sherrone Moore to build from as he takes over for Jim Harbaugh.

3. Texas

Maria Lysaker-USA TODAY Sports

2023 revenue: $271,129,326

Need to know: Texas is always at or near the top of these rankings thanks to its passionate fan base and success on the field and court, especially its fanatical football support. And it's expected to move up even more in revenue produced as the school joins the SEC in 2024. And in particular if Steve Sarkisian can put the Longhorns back in the national championship race, too.

2. Texas A&M

Maria Lysaker-USA TODAY Sports

2023 revenue: $279,188,334

Need to know: The decision to join the SEC more than a decade ago is yet to result in a conference championship or a College Football Playoff appearance, but the Aggies have certainly improved their financial position as a result of the move, including a jump from No. 7 to No. 2 from year to year.

1. Ohio State

Adam Cairns/Columbus Dispatch / USA

2023 revenue: $279,549,337

Need to know: Ohio State placed No. 1 in revenue rankings for the second-straight year despite missing out on the Big Ten title and College Football Playoff. The Buckeyes' $127.3 million football revenue was split fairly evenly between ticket sales and donations, and the men's basketball team finished at No. 8 nationally, an improvement of two spots from last year.

You can see the full 50-school rankings here

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