U of M football raking in the money
So many people wonder why and how the University of Michigan can pay and does pay their coach Jim Harbaugh approximately $9 million a year. Well it is because the football team averaged $127 million dollars a year in revenue with an average profit of $75 million.
That is why!
A recent report from Forbes Magazine informs us that University of Michigan was the third-most valuable college football team from 2014 to 2016.
I do not know if you are aware that Michigan has the largest college football stadium in the country with a maximum capacity of 107,601, and they fill it every game.
Forbes reviewed each team’s revenues and expenses, gathering that data from each school's filings with the NCAA and Department of Education.
Who was the second most valuable team in the Big Ten, Ohio State came in second and 5th nationally, with an average of $120 million in revenue and $69 million in profit.
The college football program that is currently the most valuable is Texas A&M, they averaged annual revenues of $148 million and profits of $107 million. Number two was their cross state rivals the University of Texas football program which averaged $133 million in revenues and $87 million in profit.
By the way Michigan State’s football program ranked #22 with average revenues of $80 million and profits of $39 million.
That money and publicity is why these football programs are so popular at these colleges and universities. The profit from these programs fund all the other sports, except basketball, at these colleges and universities due to the fact that all the other sports programs actually lose money for these institutions.