This week, Business Insider released a list of college basketball teams that bring in the most revenue per player, with the ACC’s own Louisville topping the list, averaging over $1.53 million per player on its 13-man roster. Joining the Cardinals were Syracuse in the second spot ($1.12M), Duke in the fourth spot ($1.02M), North Carolina in the eighth spot ($788,000), and Pittsburgh in the 18th spot ($534,000). The list features the 20 highest “fair market values per player,” and the ACC accounts for half of the top eight. It’s important to note a few things about the methodology here, though. First, these figures were determined by taking 49 percent of the school’s annual college basketball revenue (the same number used in the NBA’s latest collective bargaining agreement) and dividing it by the 13 scholarship players on each roster. Second, teams generate revenue through a variety of different sources, things such as merchandise sales, television deals, sponsorships, and NCAA Tournament appearances — not just ticket sales. Lastly, it’s also important to note that the fair market value figures do not actually apply to each individual player; Montrezl Harrell is responsible for more of Louisville’s revenue than his walk-on teammates, but the analysis treats each player as the same in the aggregate.
Rick Pitino, surrounded by approximately $3 million of revenue, according to Business Insider. (Getty)
It shouldn’t surprise anyone that the five ACC schools listed are those that represent the conference’s highest revenue-producing entities. Louisville has established itself as one of the most successful programs in America, making it to three Elite Eights, two Final Fours, and winning a National Championship in the last five years, all while striking an extremely favorable deal with the school’s lease of the KFC Yum! Center. Duke and North Carolina are the two names most synonymous with ACC basketball, selling merchandise around the world thanks to their marketable former stars and allegiance to the Nike/Jordan brands. And Syracuse, thanks to its massive Carrier Dome venue, can house up to nearly 35,000 fans for its biggest home games, which provides plenty of additional revenue when the team is hot. These are basketball programs that have had great historical success, legendary coaches and alumni, and massive fan support. That’s a formula for generating consistently high basketball revenue. What’s also striking is that the top two teams on this list are two of the latest additions to the conference rising from the ashes of the old Big East. Syracuse joined the ACC last year, and Louisville will soon play its first conference game in its new home. The addition of these teams may have ruffled some feathers among the traditional ACC crowd, but this list alone may help some of the remaining detractors understand why the conference was eager to add the new blood.
While Business Insider‘s methodology has some limitations, this list indicates the value of the top tier of ACC basketball schools in comparison with other conferences. The fact that the ACC comprises a fourth of this top 20 list shows that the conference has more than its share of financial value. While the Big Ten has the most schools listed — contributing eight names to the top 20 — not a single one of its teams cracked the top five. Instead, the Big Ten appears sporadically throughout the list, which shows that the conference consistently generates revenue from its teams (the windfall known as the Big Ten Network certainly has something to do with this). The ACC, on the other hand, is a top-heavy conference in more ways than just on the court. Before season’s start, the ACC looked to be a five-team race between Duke, North Carolina, Louisville, Virginia, and Syracuse; and perhaps unsurprisingly, four of those same five teams made this list. As the world of college basketball continues to evolve, and the notion of pay-for-play gets closer to reality, it could be that the ACC is one of the leagues most impacted by such a decision. With several of the highest revenue-producing schools in the sport, it it they who will be the benchmarks by which rate-setting will be standardized.