Wall Street Journal report names Indiana 33rd most valuable’ college football program of 2024 season

Wall Street Journal reporter Ryan Brewer, an associate professor of finance at Indiana University has released an analysis of the most valuable college football programs for the 2024 season and the Hoosiers came in at No. 33 overall according to Brewer's reports.

"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."

Wall Street Journal

To no shock the list was led by Ohio State, Texas, Michigan and Georgia.

Indiana finishing 33rd overall out of 134 FBS programs (Army, Air Force and Navy not included) puts the Hoosiers at an adjusted annual value comes out to $386,000,000 (million dollars).

The analysis included a look back at years worth of data including revenues and cash flow, overall growth and projections, and sustainability.

Brewer also told The Journal that he wouldn’t be surprised if college programs sold for upward of $4 billion in a world where college teams could be on the market, because of “X-factors” such as specific head coaches or other unique assets.

Brewer envisions a scenario where college football teams become the subject of bidding wars between the people already pouring cash into the sport: ultrawealthy alumni. Let's see where Indiana football will be ranked in 2025, I am guessing the Hoosiers can move into the top 25 in the nation before it's all said and done.