In recent years, Forbes.com has run a study that has found, what is the most valuable college basketball program in the nation? Ever, since the Yum! Center opened, the Louisville Cardinals have accelerated to the top of the list and it is no different this year. The Cards beat out the second closest money making program, the Kansas Jayhwaks, in current value by approximately $5.6 million.
The Cards current value is $38.5 million while their actual basketball team income brings in approximately $24.6 million. And off all this money being made, it is a 7% increase over what was being made as of this time last year.
With the great product that the Cards are bringing to the floor everynight it is no wonder that the program is bringing in so much money. I think this is one of the reasons that many of the universities biggest supporters do not want an NBA team coming into town. With no other athletics in the commonwealth of Kentucky, all that the people in the state have is college athletics. Kentucky comes in fourth on the list.
Here are excerpts from the Forbes.com article :
The Louisville mens basketball program is once again Forbes.com‘s most valuable program in the country. The Cardinal program is now worth $38.5 million, up from $36.1 million last year. Forbes Magazine’s ranking of college basketball’s most valuable teams utilizes a weighted methodology with three components. They are, in order of weight, basketball revenue spent on athlete scholarships and other academic programming, profit kept by the athletic department to support athletic endeavors and conference revenue generated via NCAA tournament play. Valuations are based on revenues and expenses from the 2011-12 season.
Louisville’s KFC Yum! Center, a state-of-the-art arena opened in 2010, helped the team rake in a staggering $20.4 million in contributions last year. That income was largely responsible for making the Cardinals the most profitable team in college basketball. In fact, Louisville’s $24.6 million in team profit was larger than all but four other teams’ total revenue last year.