College Football Powerhouse Plummets in Latest Ranking of Most Valuable Programs

The Athletic put a theoretical sale price on every Power 4 football program earlier in the week, and Georgia landed lower than it did a year ago. Matt Baker, the national college sports writer who built the project, valued the Bulldogs at $1.95 billion, which ranked them fifth in the country.

Last summer, the same exercise put Georgia second at $1.92 billion. The dollar figure grew by $30 million, but four other programs grew faster.

Why Georgia dropped to No. 5 in The Athletic's program valuations

The method relies on a three-year average of football revenue, then applies a multiplier based on real sales in pro sports. Georgia's three-year average was $147 million in last year's version, second only to Texas. The problem for the Athens program is what falls out of that window.

The huge paydays tied to the 2021 and 2022 national titles are aging out of the average, and Baker wrote that drifting further from those seasons is what moved Georgia down.

Texas stayed first at $2.46 billion. Ohio State ($2.3 billion), Notre Dame ($2.1 billion) and Michigan ($2 billion) now sit ahead of the Bulldogs. Alabama is next at $1.8 billion.

Georgia football revenue, SEC payouts and the 2027 athletic budget

The drop in ranking does not match what is happening inside the building. The University of Georgia Athletic Association board approved a fiscal year 2027 budget of $239.1 million in May, an 8.2 percent jump over the prior year.

Georgia projected $54.5 million in revenue from its Southeastern Conference and NCAA distribution for fiscal 2026. The SEC handed out a record $1.03 billion to its 16 schools for the fiscal year that ended Aug. 31, 2025, with full-share members averaging $72.4 million, up $18.6 million from the previous year.

Georgia Bulldogs head coach Kirby Smart speaks to the press during SEC Football Kickoff Media Day at the Tampa Marriott. | IMAGN IMAGES via Reuters Connect

More cash is on the way. Georgia and Florida will each collect $7.5 million for moving their rivalry game to Mercedes-Benz Stadium in Atlanta on Oct. 31. Deputy athletic director for finance Stephanie Ransom said name, image and likeness operations are budgeted at $22.5 million for fiscal 2027.

Georgia sent $13.5 million of its $20.5 million revenue share to football last year, and the cap is set to climb to roughly $21.3 million for 2026-27.

Georgia sponsorships, jersey patches and new money at Sanford Stadium

The school added Delta logos to the field at Sanford Stadium for the final three home games of 2025. Athletic director Josh Brooks said more is coming, but slowly.

"We don't want it just to be anyone and the value's got to be right, right? You don't want to just take a deal too soon," Brooks said.

Georgia sells its sponsorship inventory through Georgia Bulldogs Sports Marketing, a joint venture between Learfield and JMI Sports. Learfield itself was bought by private equity firm TPG in April for a reported $1.8 billion to $2 billion.

The school also brought concerts back to Sanford Stadium this spring, accepted a $10 million gift from PrizePicks founder Adam Wexler, and has a $56 million expansion of the football complex due in July 2027.

What the 2026 Georgia football season means for the Bulldogs

Kirby Smart's team went 12-2 last fall, beat Alabama 28-7 for a second straight conference title, then lost 39-34 to Ole Miss in the Sugar Bowl quarterfinal. Two playoff appearances have produced two quick exits.

Media covering conference media days picked the Bulldogs to win the SEC again, giving Georgia 88 championship votes to 57 for Texas. The league moves to a nine-game schedule this season, with the title game set for Dec. 5 in Atlanta at 4 p.m. ET. Senior quarterback Gunner Stockton returns after throwing for 2,894 yards with 24 touchdowns and five interceptions, and he defended offensive coordinator Mike Bobo in Tampa.

Georgia Bulldogs offensive coordinator Mike Bobo before the SEC Championship game against the Alabama Crimson Tide. | USA TODAY Sports via Reuters Connect

"Coach Bobo, I think he gets the best out of everybody. I know he gets the best out of me, and all my teammates because a lot of people have criticism," Stockton said.

A valuation built on old revenue will keep sliding until new revenue replaces it, and only a deep January run puts dollars back on Georgia's books.

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