The Big 12 continues to prove it has one of the deepest collections of brands in college athletics.
According to The Athletic‘s latest college football program valuations, Utah tops the Big 12 with an estimated value of $638 million, ranking 26th nationally among the 68 Power Four programs evaluated. The figures represent hypothetical sale values of each athletic department’s football program.
Texas Tech comes in second in the conference at $525 million, followed by BYU at $500 million and TCU at $495 million, giving the Big 12 four programs valued at nearly a half-billion dollars or more.
Utah Sets the Pace
Utah has quietly become one of the conference’s strongest brands since joining the Big 12.
The Utes have enjoyed sustained success over the last decade, including multiple Pac-12 championships, and have built one of the nation’s most respected football programs. That consistency is reflected in the latest valuation, as Utah sits comfortably atop the conference.
BYU Posts the Biggest Jump
No Big 12 program saw a larger increase than BYU.
The Cougars jumped $194 million year-over-year, rising from $306 million to $500 million, the largest gain of any school in the conference.
Texas Tech also enjoyed a significant rise, increasing $125 million to reach $525 million after an offseason that has generated enormous optimism around Joey McGuire’s program.
Colorado (+$40 million), Kansas (+$28 million) and UCF (+$24 million) were among the other notable risers.
Not Every Program Moved Up
Five Big 12 schools saw their valuations decline.
Kansas State experienced the biggest drop, falling $53 million to $268 million, while TCU dropped $28 million to $495 million despite remaining fourth in the conference.
Arizona (-$14 million), Baylor (-$9 million) and Iowa State (-$1 million) also slipped slightly from last year’s estimates.
Complete Big 12 Program Valuations
| Rank | School | 2026 Valuation |
|---|---|---|
| 1 | Utah | $638M |
| 2 | Texas Tech | $525M |
| 3 | BYU | $500M |
| 4 | TCU | $495M |
| 5 | Oklahoma State | $389M |
| 6 | Arizona State | $374M |
| 7 | Colorado | $368M |
| 8 | Iowa State | $330M |
| 9 | West Virginia | $289M |
| 10 | Kansas State | $268M |
| 11 | Arizona | $268M |
| 12 | Baylor | $267M |
| 13 | UCF | $234M |
| 14 | Kansas | $225M |
| 15 | Cincinnati | $110M |
| 16 | Houston | $100M |
What It Means
While program valuations don’t directly impact wins and losses on Saturdays, they offer an interesting snapshot of the overall strength of each athletic brand.
The list also underscores how competitive the Big 12 has become from top to bottom. Unlike the SEC or Big Ten, where a handful of blue bloods dominate financially, the Big 12 features a relatively compressed group of brands capable of rising quickly with on-field success, television exposure and donor investment.
Perhaps the biggest takeaway is Texas Tech’s continued ascent. The Red Raiders now trail only Utah in conference value and have separated themselves from much of the league off the field, mirroring the expectations surrounding the program entering the 2026 season.
As revenue sharing, NIL and private capital continue reshaping college athletics, the value of football programs is becoming a bigger part of the conversation. For the Big 12, these numbers show a conference with several strong brands—and one where the financial gap between contenders is much smaller than many might expect.
