Forbes: Texas A&M most valuable college football program

Texas A&M owns the most valuable program in college football, according to data analyzed by Chris Smith of Forbes.

The Aggies made an average profit of $94 million per year from an average $147 million in annual revenue from 2015-17, the three most recent years for which financial data was available. Texas narrowly trailed its state rival with an average annual profit of $92 million, despite generating equal revenue.

Forbes' 10 most profitable programs*

*Data collected between 2015-17

Television deals, fans, and boosters account for the vast majority of the revenue each school earns. Over recent years, Texas A&M has received "a wave of alumni contributions tied to athletic construction projects," Smith writes, and the school expects revenues to "normalize" after this season.

Alabama went to the national championship game in all three years. The football program averaged $134 million in annual revenue, the fourth-highest mark, but averaged a more modest profit of $61 million per year.

Clemson, which faced the Crimson Tide for the title twice during that span, averaged $77 million in revenue while raking in an average profit of $27 million per year, making it the 25th-most valuable program.