Razorbacks More Valuable Than Program's Recent Performance

Wall Street Journal's breakdown of most valuable college football programs includes Arkansas despite not living up to actual worth

Arkansas Razorbacks head coach Bobby Petrino (left) talks with Ohio State Buckeyes head coach Jim Tressel (right) after the during the 2011 Sugar Bowl at the Louisiana Superdome. | Andrew Weber-Imagn Images

FAYETTEVILLE, Ark. — Historically, Arkansas has been much more valuable on the field prior to the previous 13 football seasons. 

Minus the two seasons led by coach Chad Morris, Razorbacks’ football program has been mediocre at best with just two seasons surpassing seven wins. Some will say that is what Arkansas should consistently be reckon its average of seven wins per season all-time. 

It must be remembered that most seasons were 10-game schedules until the late 1970's and 11-games until 2006. Arkansas' prominence in its golden years would have equated into one or two more victories per season had a 12-game slate always been the standard for college football.

Most Valuable SEC Football Programs via @WSJSports

2. Texas, $1.897B
4. UGA, $1.348B
6. LSU, $1.060B
8. Tennessee, $1.017B
9. Texas A&M, $1.001B
10. Oklahoma, $881M
11. Alabama, $846M
12. Auburn, $843M
14. Florida, $793M
19. Arkansas, $616M
30. Ole Miss, $411M
44. South…

— SEC Unfiltered (@SECUnfiltered) January 23, 2025

How Ryan Brewer, associate professor of finance at Indiana University-Columbus came to his concluded analysis isn't much of a mystery and is actually quite accurate. In an excerpt from his Wall Street Journal Story, he explains how the ranking is broken down.

"Brewer conducts his study by analyzing a program’s finances and asking: What would it be worth if it could be bought and sold like a professional franchise?

Brewer looks at top-line revenues, growth and drivers of cash flow and makes projections about the sustainability of the operation, just as he would with any other business. It isn’t a mere one-year snapshot, either—he combed through years of data for 131 major college football programs, from the heavyweights all the way down to Louisiana-Monroe. Then, after breaking down everything from television viewership to trends in enrollment, his spreadsheet finally spits out an answer."

Newly crowned College Football Playoff national champion Ohio State Buckeyes were labeled as the most valuable "franchise" in the sport at $1.957 billion if it were able to be sold like professional teams. Michigan was slotted at No. 3 while runner-up Notre Dame rounded out the top-five.

Simple values like legendary coach Nick Saban retiring from Alabama last offseason played a role the Crimson Tide's value falling off at No. 11. Other values that went into Brewer's ranking included TV viewership to enrollment trends.

As I previously wrote in September, Arkansas' embracement of mediocrity in football, the program's value in sport's current state is surprising. Millions have been left on the table costing the Hogs' program a spot in the top-15 nationally.

Arkansas Razorbacks head coach Bobby Petrino talks to quarterback Ryan Mallett (15) in the first quarter of the 2011 Sugar Bowl against the Ohio State Buckeyes at the Louisiana Superdome. | Chuck Cook-Imagn Images

At the height of Petrino's tenure included appearances in both the Sugar Bowl and Cotton Bowl before things spiraled downward immediately after. The SEC has evolved and Arkansas' brass has proven its lack of desire to evolve with it.

Arkansas can be fixtures in the SEC with the program beginning to find its footing in 1995 with a surprise SEC Championship game appearance. That opened the door for Nutt to elevate the Razorbacks with two conference title game appearances, a ten win season, four nine-win campaigns and a pair of rebuilding years sprinkled in.

Petrino was even better with back-to-back double digit win seasons and a 34-17 overall record. Even 2009 was special even though it featured a couple of questionable officiating decisions in losses at Florida and LSU.

Arkansas Razorbacks head coach Houston Nutt watches his team take on the LSU Tigers during the first half at Tiger Stadium. | John David Mercer-Imagn Images

From 1998-2011, Arkansas compiled a 109-65 (60-53 SEC) record which is comparable to how Kentucky, Ole Miss and Auburn have competed over the past decade. Becoming competitive in this league will take having coaches with a type-A personality, someone not afraid of keeping their foot on the gas.

Ranked in the top-20 is nothing to scoff at but the results leave much to be desired. Considering the Razorbacks abysmal record since 2012, the program's buying rate should equate to higher expectations.

Sadly, Arkansas is run much like the Dallas Cowboys and other NFL franchises. Money trumps all and winning isn't a priority.

HOGS FEED:

• Which direction Razorbacks going in final SEC roll call this year?

• Robots may not be made for coaching, at least in this manner

• Calipari still trying to learn on fly with Razorbacks

• Calipari monologue mirrors relief, joy felt by Razorbacks

• Hogs injured freshman celebrates with team after first sec win

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