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Forbes: Texas still the richest university

Photo by Danny Aller

Photo by Danny Aller

The Texas Longhorns are the most valuable team in college sports.

Forbes magazine says Texas has a team value of $119 million, easily topping Notre Dame, last year's leader, by $11 million.

The magazine based its rankings on "dividend money," or what's left for academics (including football scholarships) and non-revenue sports after the cost of running the football program. Bowl game revenue also is factored in.

According to Forbes, Texas had a $59 million profit. Notre Dame's team value was $108 million, with a $38 million profit.

Rounding out the first 10 in Forbes' Top 20 list are Penn State, Nebraska, Alabama, Florida, LSU, Ohio State, Georgia and Oklahoma.

Michigan had the biggest drop from last year to No. 11 from No. 4. Nebraska made the biggest improvement to No. 4 from No. 18.