Men's Basketball

    Forbes Lists IU As Sixth Most Valuable Men's Basketball Program

    Go Hoosiers! Coach Tom Crean
    Go Hoosiers!
    Coach Tom Crean
    Go Hoosiers!

    March 19, 2010

    Bloomington Indiana - Forbes Magazine lists Indiana University in an article by Peter J.Schwartz as the sixth most valuable men's college basketball program in its third annual report on NCAA Division I teams.

    Unlike professional teams, which can be bought and sold on the open market, college teams have value in terms of what kind of dividends they pay to their stakeholders. "Dividend" money is what's left for the team's university (for academic purposes, including scholarship payments for players) and athletic department (to support non-revenue sports) after the cost of running the basketball operation in question. It also includes what's generated for its conference (the distribution of tournament revenue) and the community around the university (estimated incremental spending by visitors to the county that's attributable to the program). In our scoring system, the first two factors were given the most weight, while county revenue was given the least.

    The Hoosiers were ranked fourth a season ago.

    College Basketball's 20 Most Valuable Teams

    Our third annual ranking of College Basketball's Most Valuable Teams is based on what the basketball programs contribute to four important beneficiaries (in order of weight): (1) the value of contributions to the institution for academic purposes, including scholarships for basketball players; (2) the net profit generated by the basketball program retained by the athletic department; (3) the value contributed to conference peers via tournament revenue; (4) estimated direct spending by visitors to the county attributable to home basketball games.

    In order to accurately make comparisons, we standardized the revenue and expense streams for each team, since the methods of reporting to the Department of Education are often inconsistent from school to school.

    Sources: U.S. Department of Education; U.S. Bureau of Labor Statistics; the Universities; Local Chambers of Commerce and Visitors & Convention Bureaus; NCAA.

     

     

    Forbes 20 Most Valuable College Basketball Teams
    1. North Carolina Tar Heels
    Team Value: $29.0 million
    Profit: $17.7 million
    Head Coach: Roy Williams
    Conference: ACC
    Previous Value Rank: 1
    Durham-Chapel Hill, N.C., Metro Population: 489,762
    North Carolina's sixth national championship campaign last year was the most profitable single season by any team since Forbes started tracking college basketball finances with the 2006-07 season.
    

    2. Kentucky Wildcats Team Value: $26.2 million Profit: $16.1 million Head Coach: John Calipari Conference: SEC Previous Value Rank: 2 Lexington, Ky., Metro Population: 453,424 The Wildcats' passionate fan base has kept the team among the wealthiest in college basketball, despite playing in outdated Rupp Arena (no club seats or luxury suites), with an onerous lease (the team gets only $415,000 in lieu of any parking, concession and advertising revenue).

    3. Louisville Cardinals Team Value: $26.0 million Profit: $16.9 million Head Coach: Rick Pitino Conference: Big East Previous Value Rank: 3 Louisville, Ky., Metro Population: 1,244,696 With a state-of-the-art waterfront arena set to open next season, the Cardinals are all but assured of regaining the title of college basketball's most profitable team, a distinction it held for the 2006-07 and 2007-08 seasons.

    4. Kansas Jayhawks Team Value: $24.0 million Profit: $15.2 million Head Coach: Bill Self Conference: Big 12 Previous Value Rank: 5 Lawrence, Kan., Metro Population: 114,748 The Jayhawks have played in more NCAA tournament games over the last six years than rivals Kansas State, Oklahoma State and Missouri combined.

    5. Illinois Fighting Illini Team Value: $20.8 million Profit: $13.9 million Head Coach: Bruce Weber Conference: Big Ten Previous Value Rank: 7 Champaign-Urbana, Ill., Metro Population: 224,191 By keeping basketball expenses at a paltry $4.8 million (second lowest of any team in a major conference to appear on our list), the Fighting Illini boosted their profit by 9% last year.

    6. Indiana Hoosiers Team Value: $20.5 million Profit: $14.2 million Head Coach: Tom Crean Conference: Big Ten Previous Value Rank: 4 Bloomington, Ind., Metro Population: 183,944 Hoosiers hysteria! Season ticket holders "donated" $6 million to the team's booster club last year, just for the right to continue buying tickets.

    7. Ohio State Buckeyes Team Value: $18.3 million Profit: $11.4 million Head Coach: Thad Matta Conference: Big Ten Previous Value Rank: 10 Columbus, Ohio, Metro Population: 1,773,120 Despite its reputation as a gridiron powerhouse, the Buckeyes actually rank higher in Forbes' basketball valuations than football, where the team is the eighth most valuable in the nation.

    8. Syracuse Orange Team Value: $17.0 million Profit: $9.0 million Head Coach: Jim Boeheim Conference: Big East Previous Value Rank: 12 Syracuse, N.Y., Metro Population: 643,794 The Orange are one of only two teams in college basketball (along with Kentucky) to have drawn an average of 20,000 fans per game over each of the last eight seasons.

    9. UCLA Bruins Team Value: $16.8 million Profit: $8.7 million Head Coach: Ben Howland Conference: Pac-10 Previous Value Rank: 13 Los Angeles County, Calif., Population: 9,862,049 Over the last five seasons, the Bruins trail only North Carolina in number of NCAA tournament games played, earning millions of dollars for fellow Pac-10 Conference member-schools.

    10. Arizona Wildcats Team Value: $16.6 million Profit: $8.5 million Head Coach: Sean Miller Conference: Pac-10 Previous Value Rank: 6 Tucson, Ariz., Metro Population: 1,012,018 After finishing this season with a 16-15 record, Arizona was left out of the NCAA tournament for the first time since 1984.

    11. Duke Blue Devils Team Value: $16.4 million Profit: $5.6 million Head Coach: Mike Krzyzewski Conference: ACC Previous Value Rank: 8 Durham-Chapel Hill, N.C., Metro Population: 489,762 The Durham Convention & Visitors Bureau estimates total spending by out-of-county visitors to Duke home games topped $11.4 million last season.

    12. Wisconsin Badgers Team Value: $16.3 million Profit: $10.1 million Head Coach: Bo Ryan Conference: Big Ten Previous Value Rank: 11 Madison, Wisc., Metro Population: 561,505 The Badgers have reached the NCAA tournament for 12 straight years after qualifying only three times in the previous 59 seasons.

    13. Maryland Terrapins Team Value: $15.5 million Profit: $9.5 million Head Coach: Gary Williams Conference: ACC Previous Value Rank: 9 Washington, D.C., Metro Population: 4,181,729 The Terrapins averaged close to 500 more fans per game than the nearby Washington Wizards of the NBA last season.

    14. Arkansas Razorbacks Team Value: $14.6 million Profit: $10.0 million Head Coach: John Pelphrey Conference: SEC Previous Value Rank: 15 Fayetteville, Ark., Metro Population: 443,976 The Razorbacks, who topped the SEC West Division in attendance for the 16th straight year last season, drew more than 16,000 fans per game to Bud Walton Arena.

    15. Xavier Musketeers Team Value: $14.4 million Profit: $9.1 million Head Coach: Chris Mack Conference: Atlantic 10 Previous Value Rank: 17 Cincinnati, Ohio, Metro Population: 2,155,137 Xavier, which generated $4.2 million from seat licenses last year, is the most valuable team from a non-major conference and one of only four teams whose value rank has increased for two consecutive seasons (the others: Kansas, Syracuse and Arkansas).

    16. Tennessee Volunteers Team Value: $14.1 million Profit: $8.6 million Head Coach: Bruce Pearl Conference: SEC Previous Value: Not Ranked Knoxville, Tenn., Metro Population: 691,152 The Volunteers generated $4.9 million from ticket sales last year, as well as another $700,000 from contributions required to purchase premium seats at Thompson-Boling Arena.

    17. Minnesota Golden Gophers Team Value: $13.5 million Profit: $8.9 million Head Coach: Tubby Smith Conference: Big Ten Previous Value: Not Ranked Minneapolis-Saint Paul, Minn., Metro Population: 3,229,878 As the only Division 1 athletic program in the state, the Gophers' core base of support stretches across one of the largest geographic areas of any college.

    18. Pittsburgh Panthers Team Value: $13.2 million Profit: $6.5 million Head Coach: Jamie Dixon Conference: Big East Previous Value Rank: 20 Pittsburgh, Pa., Metro Population: 2,351,192 The Panthers ended last season with school records in total attendance (212,682), average attendance (11,194) and consecutive sellouts (132).

    19. Michigan State Spartans Team Value: $13.0 million Profit: $6.6 million Head Coach: Tom Izzo Conference: Big Ten Previous Value Rank: 14 East Lansing, Mich., Metro Population: 454,035 The Spartans made it to their first national championship game in nine years last season, playing before a partial crowd at Detroit's Ford Field.

    20. UNLV Runnin' Rebels Team Value: $12.9 million Profit: $8.3 million Head Coach: Lon Kruger Conference: Mountain West Previous Value Rank: 16 Las Vegas, Nev., Metro Population: 1,865,746 Playing in America's largest metro area without a major league sports team, the Runnin' Rebels attract some of Las Vegas' highest rollers to games at the Thomas & Mack Center.


       

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