There are a lot of iconic college football programs still very relevant in 2025. USC, Alabama, Georgia, Oregon, and more are all among the nation's best teams and have historically been really good. However, none of them would be the most expensive if college teams fully leaned into the pro model and had owners and sales.
If they did, which they never will given how that works and the fact that these are still extensions of schools no matter how businesslike they get, then none of them would be the most expensive. That honor, according to Matt Baker of The Athletic, belongs to the Texas Longhorns.
"The Longhorns routinely lead the country in revenue and were the only team to top $200 million in the most recent financial reports. No program came within $25 million of Texas in either of the past two years. The Longhorns haven’t won a national title since 2005 but made the College Football Playoff semifinals each of the past two seasons and are among this preseason’s top championship contenders. Add in the SEC brand, and Texas looks like the safest investment," Baker said.
The Athletic's price tag puts the Longhorns in the territory of the 2018 sale of the Carolina Panthers (almost $2.3 billion). Before you say anything about the quality of the team, note that in 2018, the Panthers had been to the playoffs two out of the last three years and were far from the dumpster fire they turned into after being sold.
Despite not winning a title in two decades, something that might change in 2025 with Arch Manning finally under center, the Longhorns have remained good and relevant throughout the years, and this could be their biggest moment yet, so it'd be a good time to cash in on a hypothetical sale.