BYU is Well Positioned to Eventually be in the Top Half in Revenue in the Big 12

Every year, the US Department of Education releases the financial information for every athletic department in the United States. Recently, the annual earnings for the 2021 calendar year were released to the public. In 2021, two years before BYU officially joined the Big 12, the Cougars earned $106.4 million in total revenue. That was good enough for 10th out of the 16 teams that will make up the new Big 12.

Below are the 2021 earnings for the 16 teams that make up the new Big 12.

1. Kansas - $205.7M
2. TCU - 149.3M
3. Arizona - $138.8
4. Baylor - $137.5
5. Colorado - $136.1
6. Arizona State - $128.3M
7. Texas Tech - $123.6M
8. Oklahoma State - $119.2M
9. Utah - $111.5M
10. BYU - $106.4M
11. West Virginia - $103.1M
12. Kansas State - $102.3M
13. Iowa State - $93.0M
14. UCF - $88.2M
15. Houston - $84.0M
16. Cincinnati - $77.4M

Kansas led the way by a wide margin. Cincinnati, Houston, and UCF were last in the conference, generating less than $90 million in revenue apiece. That's not surprising given their G5 affiliation with the AAC at the time. BYU, despite not having a P5 TV contract, generated more revenue than West Virginia, Kansas State, and Iowa State.

In the future, BYU will be well positioned to be in the top half of revenue generating schools in the Big 12. The Cougars will get a large pay increase when they get a full share of the Big 12's media deal in 2025. To be clear, everyone in the conference will get a pay increase with the new deal, but BYU's increase will be larger than those schools that already enjoyed the benefits of a P5 media deal. The Cougars will also get a large increase from the College Football Playoff payout, the NCAA Basketball Tournament units, and bowl payouts. BYU's CFP payout was minimal in the era of independence.

Using reported numbers of the new media deal, the old media deal, BYU's rumored TV deal from independence, CFP payouts, and other data, we projected the future revenue increase for each team in the Big 12. In our projections, BYU leapfrogged Texas Tech, Oklahoma State, and Utah.

Projected Big 12 Revenues (2025 and Beyond)

1. Kansas - $215.4M
2. TCU - $159.0M
3. Arizona - $150.7M
4. Colorado - $148.0M
5. Baylor - $147.2M
6. Arizona State - $140.2M
7. BYU - $137.1M
8. Texas Tech - $133.3M
9. Oklahoma State - $128.9M
10. UCF - $124.9M
11. Utah - $123.4M
12. Houston - $120.7M
13. Cincinnati - $114.1M
14. West Virginia - $112.8M
15. Kansas State - $112.0M
16. Iowa State - $102.7M

This excludes additional revenue that BYU would generate from things like its recent increases in ticket prices and the increased interest in basketball,.

A few years from now, BYU will have more resources at its disposal than ever before. They have to make the right investments and prepare for a future where revenue sharing with athletes could be allowed in college athletics.

Financially speaking, the independence era was a good thing for the BYU athletic department. BYU doubled its revenue during that decade. In 2010, for example, BYU earned $45.5M in total revenue. Tom Holmoe made decisions that increased BYU's financial profile - and as a result - BYU is well positioned for the future in the Big 12.