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Razorbacks football produce middle of pack SEC value on program

As league teams dominate top of list nationwide, Arkansas stacked up with Ole Miss based on formula
Andy Hodges|
Arkansas Razorbacks athletics director Hunter Yurachek at the game with the Tennessee Volunteers.
Arkansas Razorbacks athletics director Hunter Yurachek at the game with the Tennessee Volunteers. | Michael Morrison-Hogs on SI Images

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FAYETTEVILLE, Ark. — Arkansas' football program is valued at $646 million, according to a new report by Matt Baker at The Athletic that places hypothetical price tags on major college football teams.

About the only aspect of the list that Razorback fans will turn up their nose about is that is only two spots higher than Ole Miss. The thing to remember is this is only football valuations and doesn't include other sports.

Over half of the Top 10 in football value are in the SEC with Texas and Georgia the first two, respectively. Alabama came in at No. 6, Oklahoma right behind them while Tennessee and LSU at ninth and 10th.

The calculation is part of a broader evaluation of program worth in 2025, using three-year average of football revenues and benchmarks from recent professional sports franchise sales.

The Athletic’s analysis, which is theoretical, ranks Arkansas 23rd among college football programs. The methodology factors in an average annual football revenue of $80.8 million for the Razorbacks.

Arkansas falls just behind Miami, valued at $604 million, and just ahead of Ole Miss at $591 million. The report groups Arkansas, Miami, and Ole Miss together as “middle-of-the-pack SEC programs,” underscoring the premium the SEC brings.

The SEC dominates the list, with Texas leading all programs at $2.38 billion. Georgia is second at $1.92 billion, and Alabama is sixth at $1.74 billion.

Tennessee, LSU, Auburn, and Florida also rank in the Top 13, each surpassing the $1 billion mark. Even Texas A&M, which missed the $1 billion club, is valued at $973 million, highlighting the SEC’s financial depth.

The Athletic’s approach blends revenue data, market trends, demographics, and the intangible appeal of college football loyalty.

The authors caution that actual sales would be far more complex and “squishy,” as factors like stadium ownership, alumni involvement and new player compensation rules are difficult to quantify.

“Buyers routinely pay a premium because there are only so many opportunities to own a sports team,” the story said about how all that works.

The SEC’s influence is clear throughout the rankings. The conference’s lowest-valued teams, Mississippi State at $250 million and Vanderbilt at $228 million, still rank higher than many programs in other conferences.

The report points out that conference affiliation is now as important as wins and losses, with the SEC’s media contracts and national profile boosting the value of its member schools.

Arkansas’ position reflects stability, even with several coaching changes and tough schedules in recent years. They are still comfortably in the sport’s upper middle tier.

The report says their valuation is “attractive enough that, in a world where private equity could buy a team, Fayetteville would be a serious player.”

The difference in valuations across programs highlights the changing landscape of college football.

The top five, Texas, Georgia, Ohio State, Notre Dame and Michigan, each top $1.8 billion in projected worth, driven by large fan bases, recent playoff appearances, and strong population growth in their home states.

“The SEC brand looks like the safest investment,” The Athletic's story said.

The conference’s television contracts and recruiting footprint create financial security for all member schools, including Arkansas.

The Razorbacks are not among the sport’s financial giants, but their $646 million estimate places them above many historic programs nationwide.

The authors stress that these valuations are not precise market prices, but rather a snapshot of the sport’s current hierarchy.

“Do not take our numbers to the bank, literally or metaphorically,” the report says.

New expenses, such as the annual $20.5 million cost of paying players, and asset values like stadiums, are not included.

For Arkansas and the SEC, the study provides a gauge of current standing as college football enters a new era of media rights, player compensation, and possible private investment.

The Athletic’s evaluation is part of its Rankings & Tiers series and aims to blend revenue analysis with the unique dynamics of college sports.

As the landscape evolves, the Razorbacks’ $646 million valuation is likely to be a point of both debate and pride among fans and alumni.

In a sport where tradition and market forces increasingly intersect, Arkansas remains a significant player in the financial game.

The Razorbacks’ valuation reflects both the program’s steady support and the SEC’s continued role as college football’s financial leader.

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Andy Hodges
ANDY HODGES

Sports columnist, writer, former radio host and television host who has been expressing an opinion on sports in the media for over four decades. He has been at numerous media stops in Arkansas, Texas and Mississippi.

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