The business behind college sports

Follow the money.
Understand the game.

Independent analysis of the revenue, media deals, facilities and financial decisions shaping college athletics.

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Analysis & explainers

Latest from the Ledger

Reporting that puts the number in context—without the booster spin or conference talking points.

The $345 Million Question: Inside College Football’s Push Toward a 24-Team Playoff

ESPN’s reported expansion payment could reshape the CFP, but lost conference title games complicate the economics.

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Notre Dame’s reported $120 million SoFi deal: What the patch is really worth

The logo is the most visible asset, but the reported $18–20 million annual package buys far more than four square inches of jersey space.

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Miami’s reported $200 million Nike deal: What the Hurricanes actually gain

The headline tops $200 million, but the reported package mixes cash and apparel. Here is what changes—and what remains unknown.

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What a college sponsorship deal is really worth

Tennessee, Ohio State and a worked example show why headline value is not the same as cash available to spend.

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Revenue is not profit: Why a $200 million athletic department can still be cash-strapped

College sports celebrates record revenue. The expense side of the ledger tells a different story.

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Where does the money in college sports actually come from?

Media deals get the headlines. But the business of college athletics runs on far more than television money.

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The score tells you who won.
The ledger tells you why it matters.

College Sports Ledger exists to make the business of college athletics understandable. We trace claims back to public records, contracts and credible reporting—then explain the tradeoffs in plain English.

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