These Universities Profit the Most Off Their Student-Athletes

Major college athletics is big business, with millions of dollars in ticket sales, merchandise and television rights flowing into Division I universities every year. But in recent years, more Americans have grappled with the increasingly difficult reality of how schools manage to generate all of that revenue.

Sure, the student-athletes attracting everyone to the games typically receive scholarships worth tens of thousands of dollars, and many of the universities making money off those same athletes are public, nonprofit institutions. But this rationalization can only go so far when it’s clear that the entire system remains dependent on the nation’s finest young athletes essentially donating their labor — work that, for some of the more elite competitors, would be worth millions on the open market.

So, which universities currently benefit the most from this system? That’s what GOBankingRates sought to determine by digging into the budgets for the athletic departments of nearly 120 of the most prominent public colleges in the country. In many cases, these institutions are pulling down millions of dollars a year in profit after expenses — all because they can recruit top talent and rely on them to perform unpaid work.

Last updated: Oct. 20, 2020

• Conference: MAC
• Revenue: $30,681,039
• Expenses: $30,681,035

Profit: $4

• Conference: America East
• Revenue: $21,666,570
• Expenses: $21,661,278

Profit: $5,292

• Conference: Southland
• Revenue: $11,986,700
• Expenses: $11,975,415

Profit: $11,285

• Conference: Ohio Valley
• Revenue: $12,633,883
• Expenses: $12,604,529

Profit: $29,354

Pictured: Cape Girardeau, Missouri

• Conference: MAC
• Revenue: $25,856,400
• Expenses: $25,821,426

Profit: $34,974

• Conference: Sun Belt
• Revenue: $12,160,285
• Expenses: $12,096,940

Profit: $63,345

• Conference: Southland
• Revenue: $18,379,145
• Expenses: $18,308,056

Profit: $71,089

• Conference: MAC
• Revenue: $40,834,648
• Expenses: $40,763,071

Profit: $71,577

• Conference: WAC
• Revenue: $15,107,741
• Expenses: $15,030,673

Profit: $77,068

• Conference: Sun Belt
• Revenue: $32,510,606
• Expenses: $32,428,520

Profit: $82,086

• Conference: Big 12
• Revenue: $88,753,664
• Expenses: $88,670,048

Profit: $83,616

• Conference: Sun Belt
• Revenue: $36,940,867
• Expenses: $36,853,981

Profit: $86,886

• Conference: Horizon
• Revenue: $12,007,969
• Expenses: $11,909,489

Profit: $98,480

• Conference: Big West
• Revenue: $20,892,086
• Expenses: $20,789,684

Profit: $102,402

• Conference: Atlantic Sun
• Revenue: $25,982,350
• Expenses: $25,868,226

Profit: $114,124

• Conference: Southland
• Revenue: $14,222,167
• Expenses: $14,104,967

Profit: $117,200

• Conference: Summit
• Revenue: $28,144,888
• Expenses: $28,025,664

Profit: $119,224

• Conference: C-USA
• Revenue: $35,275,379
• Expenses: $35,149,886

Profit: $125,493

• Conference: Missouri Valley
• Revenue: $19,983,624
• Expenses: $19,802,570

Profit: $181,054

• Conference: Big South
• Revenue: $8,868,914
• Expenses: $8,682,200

Profit: $186,714

• Conference: CAA
• Revenue: $24,982,355
• Expenses: $24,795,399

Profit: $186,956

• Conference: MAC
• Revenue: $28,634,103
• Expenses: $28,443,728

Profit: $190,375

• Conference: A-10
• Revenue: $28,230,677
• Expenses: $28,036,845

Profit: $193,832

• Conference: America East
• Revenue: $32,545,442
• Expenses: $32,347,692

Profit: $197,750

• Conference: Atlantic Sun
• Revenue: $17,688,478
• Expenses: $17,469,429

Profit: $219,049

• Conference: Big South
• Revenue: $12,163,488
• Expenses: $11,924,508

Profit: $238,980

• Conference: SWAC
• Revenue: $8,759,179
• Expenses: $8,507,080

Profit: $252,099

• Conference: Northeast
• Revenue: $16,805,088
• Expenses: $16,544,219

Profit: $260,869

• Conference: Mountain West
• Revenue: $48,109,196
• Expenses: $47,846,748

Profit: $262,448

• Conference: MAC
• Revenue: $24,673,957
• Expenses: $24,393,090

Profit: $280,867

• Conference: America East
• Revenue: $21,361,106
• Expenses: $21,078,702

Profit: $282,404

• Conference: Big 12
• Revenue: $88,516,367
• Expenses: $88,228,667

Profit: $287,700

• Conference: WAC
• Revenue: $15,061,319
• Expenses: $14,756,557

Profit: $304,762

• Conference: Big 12
• Revenue: $89,259,783
• Expenses: $88,948,721

Profit: $311,062

• Conference: Missouri Valley
• Revenue: $16,505,426
• Expenses: $16,175,618

Profit: $329,808

• Conference: CAA
• Revenue: $18,815,244
• Expenses: $18,452,973

Profit: $362,271

• Conference: Horizon
• Revenue: $16,847,235
• Expenses: $16,464,614

Profit: $382,621

• Conference: Southland
• Revenue: $17,486,183
• Expenses: $17,102,778

Profit: $383,405

• Conference: Big Sky
• Revenue: $22,286,147
• Expenses: $21,883,805

Profit: $402,342

• Conference: Southern
• Revenue: $14,356,990
• Expenses: $13,937,418

Profit: $419,572

• Conference: America East
• Revenue: $23,857,184
• Expenses: $23,435,785

Profit: $421,399

• Conference: Southern
• Revenue: $14,720,226
• Expenses: $14,291,807

Profit: $428,419

• Conference: Southland
• Revenue: $9,617,268
• Expenses: $9,182,117

Profit: $435,151

• Conference: America East
• Revenue: $17,709,758
• Expenses: $17,239,683

Profit: $470,075

• Conference: Big Ten
• Revenue: $98,294,571
• Expenses: $97,819,892

Profit: $474,679

• Conference: Atlantic Sun
• Revenue: $16,297,752
• Expenses: $15,808,445

Profit: $489,307

• Conference: Sun Belt
• Revenue: $31,696,141
• Expenses: $31,181,439

Profit: $514,702

• Conference: Southland
• Revenue: $19,102,055
• Expenses: $18,581,115

Profit: $520,940

• Conference: MEAC
• Revenue: $13,861,765
• Expenses: $13,323,995

Profit: $537,770

• Conference: Big Sky
• Revenue: $19,178,924
• Expenses: $18,626,542

Profit: $552,382

• Conference: Mountain West
• Revenue: $50,568,292
• Expenses: $50,014,197

Profit: $554,095

• Conference: MEAC
• Revenue: $14,420,476
• Expenses: $13,847,414

Profit: $573,062

• Conference: Horizon
• Revenue: $14,420,476
• Expenses: $13,847,414

Profit: $573,062

• Conference: Horizon
• Revenue: $18,521,054
• Expenses: $17,894,990

Profit: $626,064

• Conference: WAC
• Revenue: $26,320,230
• Expenses: $25,693,309

Profit: $626,921

• Conference: Atlantic Sun
• Revenue: $12,790,843
• Expenses: $12,119,397

Profit: $671,446

• Conference: Horizon
• Revenue: $10,882,809
• Expenses: $10,203,286

Profit: $679,523

• Conference: Big West
• Revenue: $18,500,309
• Expenses: $17,799,986

Profit: $700,323

• Conference: Ohio Valley
• Revenue: $16,827,106
• Expenses: $16,105,420

Profit: $721,686

• Conference: Southern
• Revenue: $18,401,833
• Expenses: $17,658,688

Profit: $743,145

• Conference: Summit
• Revenue: $22,168,074
• Expenses: $21,419,827

Profit: $748,247

• Conference: Mountain West
• Revenue: $55,687,184
• Expenses: $54,933,032

Profit: $754,152

• Conference: AAC
• Revenue: $61,968,057
• Expenses: $61,118,971

Profit: $849,086

• Conference: Summit
• Revenue: $20,882,801
• Expenses: $19,938,433

Profit: $944,368

• Conference: Big West
• Revenue: $30,918,417
• Expenses: $29,869,660

Profit: $1,048,757

• Conference: A-10
• Revenue: $35,798,825
• Expenses: $34,608,626

Profit: $1,190,199

• Conference: Summit
• Revenue: $28,656,183
• Expenses: $27,455,093

Profit: $1,201,090

• Conference: ACC
• Revenue: $87,976,532
• Expenses: $86,756,449

Profit: $1,220,083

• Conference: Big West
• Revenue: $37,458,859
• Expenses: $36,143,657

Profit: $1,315,202

• Conference: Missouri Valley
• Revenue: $33,321,769
• Expenses: $31,947,698

Profit: $1,374,071

• Conference: ACC
• Revenue: $134,155,908
• Expenses: $132,708,762

Profit: $1,447,146

• Conference: Horizon
• Revenue: $10,728,044
• Expenses: $9,234,942

Profit: $1,493,102

• Conference: A-10
• Revenue: $48,081,784
• Expenses: $46,438,521

Profit: $1,643,263

• Conference: Big Sky
• Revenue: $14,125,441
• Expenses: $12,476,314

Profit: $1,649,127

• Conference: ACC
• Revenue: $120,532,975
• Expenses: $118,847,123

Profit: $1,685,852

• Conference: Big Ten
• Revenue: $205,556,663
• Expenses: $203,809,715

Profit: $1,746,948

• Conference: C-USA
• Revenue: $37,919,619
• Expenses: $36,160,236

Profit: $1,759,383

• Conference: Southern
• Revenue: $24,780,474
• Expenses: $22,991,268

Profit: $1,789,206

• Conference: Mountain West
• Revenue: $44,910,641
• Expenses: $43,005,108

Profit: $1,905,533

• Conference: ACC
• Revenue: $104,571,404
• Expenses: $102,430,558

Profit: $2,140,846

• Conference: Big Ten
• Revenue: $151,966,795
• Expenses: $149,798,158

Profit: $2,168,637

• Conference: Big 12
• Revenue: $106,307,326
• Expenses: $104,108,072

Profit: $2,199,254

• Conference: Missouri Valley
• Revenue: $28,145,272
• Expenses: $25,744,175

Profit: $2,401,097

• Conference: Mountain West
• Revenue: $54,728,814
• Expenses: $52,159,851

Profit: $2,568,963

• Conference: Pac-12
• Revenue: $122,541,827
• Expenses: $119,811,239

Profit: $2,730,588

• Conference: SEC
• Revenue: $130,126,110
• Expenses: $127,369,722

Profit: $2,756,388

• Conference: Sun Belt
• Revenue: $37,267,758
• Expenses: $34,470,226

Profit: $2,797,532

• Conference: ACC
• Revenue: $91,647,068
• Expenses: $88,517,077

Profit: $3,129,991

• Conference: Pac-12
• Revenue: $91,386,593
• Expenses: $87,578,834

Profit: $3,807,759

• Conference: Pac-12
• Revenue: $130,919,331
• Expenses: $126,133,008

Profit: $4,786,323

• Conference: ACC
• Revenue: $98,485,395
• Expenses: $93,588,260

Profit: $4,897,135

• Conference: SEC
• Revenue: $140,084,150
• Expenses: $134,863,557

Profit: $5,220,593

• Conference: SEC
• Revenue: $134,154,614
• Expenses: $128,875,582

Profit: $5,279,032

• Conference: Big Ten
• Revenue: $115,132,186
• Expenses: $108,696,540

Profit: $6,435,646

• Conference: Mountain West
• Revenue: $60,101,907
• Expenses: $53,530,468

Profit: $6,571,439

• Conference: Big Ten
• Revenue: $142,223,226
• Expenses: $135,627,283

Profit: $6,595,943

• Conference: Big Ten
• Revenue: $122,933,136
• Expenses: $116,277,652

Profit: $6,655,484

• Conference: Sun Belt
• Revenue: $39,546,233
• Expenses: $32,629,661

Profit: $6,916,572

• Conference: Big Ten
• Revenue: $137,093,027
• Expenses: $130,117,820

Profit: $6,975,207

• Conference: MAC
• Revenue: $39,989,495
• Expenses: $32,540,008

Profit: $7,449,487

• Conference: SEC
• Revenue: $147,620,569
• Expenses: $139,798,191

Profit: $7,822,378

• Conference: Big Ten
• Revenue: $103,092,204
• Expenses: $95,176,957

Profit: $7,915,247

• Conference: SEC
• Revenue: $145,422,796
• Expenses: $137,451,520

Profit: $7,971,276

• Conference: Big Ten
• Revenue: $145,640,289
• Expenses: $137,416,056

Profit: $8,224,233

• Conference: Big 12
• Revenue: $86,911,309
• Expenses: $77,633,258

Profit: $9,278,051

• Conference: Big Ten
• Revenue: $124,847,642
• Expenses: $115,090,006

Profit: $9,757,636

• Conference: ACC
• Revenue: $168,177,850
• Expenses: $158,375,459

Profit: $9,802,391

• Conference: Big Ten
• Revenue: $165,373,214
• Expenses: $155,184,697

Profit: $10,188,517

• Conference: Big 12
• Revenue: $102,684,423
• Expenses: $91,807,281

Profit: $10,877,142

• Conference: SEC
• Revenue: $177,481,937
• Expenses: $166,533,013

Profit: $10,948,924

• Conference: SEC
• Revenue: $161,183,765
• Expenses: $149,144,376

Profit: $12,039,389

• Conference: Big Ten
• Revenue: $195,769,104
• Expenses: $183,414,032

Profit: $12,355,072

• Conference: Big 12
• Revenue: $219,402,579
• Expenses: $206,554,432

Profit: $12,848,147

• Conference: SEC
• Revenue: $103,858,865
• Expenses: $89,794,392

Profit: $14,064,473

• Conference: Big 12
• Revenue: $175,325,500
• Expenses: $152,674,475

Profit: $22,651,025

• Conference: SEC
• Revenue: $176,699,893
• Expenses: $133,941,585

Profit: $42,758,308

• Conference: SEC
• Revenue: $212,399,426
• Expenses: $165,782,418

Profit: $46,617,008

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Methodology: GOBankingRates used USA Today’s 2018 NCAA finances data to discover which Division I universities profit the most off their student-athletes. GOBankingRates looked at each university’s athletic department’s (1) overall revenue and (2) overall expenses. Based on these two figures, GOBankingRates found each university’s (3) profits. GOBankingRates ranked the athletic departments from most to least profitable for the 2018 fiscal year. Only public universities were included as they are the only universities in the U.S. required to publish this data. All data was collected and is up to date as of May 4, 2020.