If it's your ultimate dream to one day own the Nebraska football team, you might want to start saving now — it won't be cheap.
According to a new analysis published by the Wall Street Journal on Monday, the Husker football program is valued at just over $444 million dollars. The research, done by Indiana University-Purdue University Columbus assistant professor Ryan Brewer, pegs Nebraska at 11th overall on the list of most-valued programs. To arrive at the figure, Brewer looked at program revenues and expenses — among other factors — to calculate "what a team would be worth on the open market, if it could be bought and sold like a professional franchise." Which it obviously can't, because college teams aren't available for purchase.
In 2014, Nebraska was valued at $432.5 million, good for 12th nationally. According to the Journal, that increase in value bucks the trend. "Overall, the value of Football Bowl Subdivision teams has dropped 1.8 percent on average from last year despite cash flows increasing 18 percent and revenues growing 9.6 percent year over year."
The top ten includes three Big Ten teams — No. 1 Ohio State ($946.6 million), No. 3 Michigan ($811.3 million) and No. 10 Penn State ($481.4 million). Iowa comes in at No. 12 on the list with a value of nearly $439.6 million.
Of course, theoretically valuing a number of historic programs that aren't actually for sale is an inexact science. In Dec. 2015, Forbes reporter Chris Smith did his own evaluation of program value, which had wildly different results. In that report, Nebraska didn't make it into the top 20, and Ohio State ranked sixth with a value of $100 million. Texas was ranked first in that listing, with a value of $152 million.
To see the full list, click here.