The Big 12’s brand strength showed up again in The Athletic’s latest college football program valuations, and the numbers paint a pretty clear picture: Utah is out front, Texas Tech is climbing fast, and BYU made the biggest leap of anyone in the league.
Utah sits atop the conference at an estimated $638 million, which also places the Utes 26th nationally among the 68 Power Four programs evaluated. Texas Tech follows at $525 million, with BYU right behind at $500 million and TCU at $495 million. That gives the Big 12 four programs valued at nearly a half-billion dollars or more.
For Utah, the top spot fits the way the program has built its identity over the last decade. The Utes have put together sustained success, including multiple Pac-12 championships, and that consistency has translated into one of the most respected football brands in the country. Since arriving in the Big 12, they’ve wasted no time proving they belong near the top of the league’s financial pecking order.
BYU, though, is the real headline when it comes to movement year over year. The Cougars surged by $194 million, climbing from $306 million to $500 million. That was the largest gain in the conference by a wide margin.
Texas Tech also made a major jump, rising $125 million to $525 million. The Red Raiders’ rise comes after an offseason that has generated plenty of optimism around Joey McGuire’s program. In this valuation snapshot, they’ve separated themselves from much of the league and now sit just behind Utah.
There were other notable risers, too. Colorado increased by $40 million, Kansas went up $28 million and UCF added $24 million.
But not everyone moved in the same direction. Five Big 12 programs saw their valuations dip.
Kansas State took the biggest hit, falling $53 million to $268 million. TCU dropped $28 million to $495 million, though it still holds fourth place in the conference.
Arizona slipped $14 million, Baylor fell $9 million and Iowa State declined by $1 million.
Here’s how the full Big 12 valuation list breaks down for 2026:
- Utah - $638M
- Texas Tech - $525M
- BYU - $500M
- TCU - $495M
- Oklahoma State - $389M
- Arizona State - $374M
- Colorado - $368M
- Iowa State - $330M
- West Virginia - $289M
- Kansas State - $268M
- Arizona - $268M
- Baylor - $267M
- UCF - $234M
- Kansas - $225M
- Cincinnati - $110M
- Houston - $100M
The valuations don’t decide games on Saturdays, but they do offer a useful look at how the league’s football brands are stacking up. And the bigger picture is hard to miss: the Big 12 has a deep group of programs with real financial weight.
Unlike the SEC or Big Ten, where the money is concentrated among a few heavyweights, the Big 12 has a tighter cluster of brands that can move quickly with the right mix of success, television exposure and donor support. That makes the league feel unusually fluid from top to bottom.
If there’s one program that stands out most beyond Utah, it’s Texas Tech. The Red Raiders now trail only the Utes in conference value, and their rise mirrors the expectations building around the program heading into the 2026 season.
With revenue sharing, NIL and private capital continuing to reshape college athletics, program value is becoming a bigger part of the conversation. For the Big 12, these numbers show a conference with plenty of strength - and a financial gap between contenders that is smaller than it may look from the outside.
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