Nebraska football has only cracked the AP Top 25 for two weeks in the past six years, but when it comes to investment, the Huskers are already playing in the sport’s elite tier. According to newly released fiscal year 2024 data* acquired by Extra Points, Nebraska ranked fourth nationally in football operating costs, spending $84.1 million to fuel Matt Rhule’s program. That figure trails only Alabama, Texas A&M, and Washington, and sits ahead of perennial powerhouses like Ohio State, Michigan, and Georgia.
*Private schools are not required to answer FOIA requests or submit the same financial data that public schools are. That's why you do not see Notre Dame, USC, or others on this list.
Operating costs cover everything from coaching salaries and recruiting to travel and facilities, making them the engine behind any modern program’s push for success. For Nebraska, the numbers reaffirm what fans have long believed: that the resources to compete on a national stage are already in place. In an era shaped by NIL and revenue-sharing, that level of investment positions the Huskers to bridge the gap between tradition and contention, and, if leveraged correctly, could accelerate their return to national prominence, right before our eyes.
After reviewing the list, one thing is clear: college football has become an arms race. Nine of the top 20 spenders hail from the Big Ten, and when you include the SEC, 18 of the top 20 come from those two leagues. The connection between dollars and dominance is undeniable. Seventeen of the last 20 national champions appear on this list, and seven of the 12 teams to make last year’s College Football Playoff were top 20 spenders as well.
That doesn’t mean it’s impossible to reach the summit without being in that financial tier, but history shows it’s far more difficult. The rare exceptions, like Florida and LSU, were driven by Heisman winning quarterbacks or Hall-of-Fame caliber coaches. For most programs, sustainable success comes from competing in this financial arms race.
For Nebraska, ranking fourth nationally in operating costs means they’re already at the table. The challenge is turning that investment into wins on the field.
That responsibility falls largely on Rhule, who was hired not just for his experience rebuilding programs at Temple and Baylor, but for his ability to maximize resources in the new era of college football. Unlike his previous stops, Nebraska offers him something he’s never had before: a blueprint to win at the highest level.
That combination of resources and leadership is why fans see more than just a dollar figure in the Huskers’ $84.1 million budget. They see a program finally aligned to compete in modern college football. It’s not just about spending for the sake of spending; it’s about creating the infrastructure that allows Nebraska to recruit nationally, develop players at a higher level, and close the gap with the sport's perennial contenders.
Of course, money doesn’t guarantee wins, but what it does guarantee is that Nebraska won’t be left behind. For a fan base that has waited nearly two decades to see its team return to national relevance, that commitment matters. It ensures that when Rhule talks about building for the long haul, he has the resources to do it.
If the on-field product begins to match the investment, and a win against Michigan would go a long way in proving that, Nebraska could soon transform financial strength into something far more valuable: a return to where they rightfully belong.
In his third year as Nebraska’s head coach, Rhule has every opportunity to reaffirm his athletic department’s commitment to spending. Win and that investment will only grow. While the season still has to play out, any leap forward in 2025 will be fueled in large part by the financial backing of Nebraska’s athletic department and the vision its leaders have for a true return to glory. For now, fans can sit back and watch this team go to work, but don’t be surprised if that commitment to excellence begins paying off in a big way on the field this fall.
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