Penn State once again made Forbes list of the most valuable college football programs in the country, coming in at number 13. This number is 10 lower than the previous year’s 3rd place ranking, which should come as little surprise given the situation the football team faced last year.
Forbes lists the current value of the football program at $79 million, down 21% from last year. This decrease — the largest drop in out of the teams included on the list — is, of course, mostly attributed to costly expenses related to the Sandusky scandal. These factors included decreased attendance and the first $11 million payment on behalf of the NCAA. In all, Penn State racked up $30 million in expenses, up 55% year-over-year.
According to Forbes, its ranking system is based on the financial profit each football program brings to its university with regards to four criteria: academics, including football scholarships; financial support for other athletic teams; conference revenues from bowl game profits (don’t worry, we still get some money from other Big Ten teams); and community impact, largely based on game day attendance.
It’s a testament to the Penn State community that this program still remained in the top 25. It will take a lot of Michael Mauti jerseys to make up for lost ground, but I know if anyone can do it, it’s us.