Spending vs Price

After Week 9 of 2026, Liberty trades 43.5 points above what its $23.0M football budget usually buys, the most of 131 ranked FBS teams. California trades the furthest below its budget line, at -42.4 points.

Each team's price against its football budget. The dashed line is the price a budget usually buys. Teams 10+ points above it are VALUE, 10+ below are OVERVALUED, the rest are FAIR. P/E puts the same idea in one number: 20 is par for the budget, lower is cheap, higher is expensive.

Value

Fair

Overvalued

the budget linevaluefairovervalued

Furthest from the line, price points vs. what the budget usually buys

ABOVE

LIB▲ 44 pts

IU▲ 36 pts

UNM▲ 34 pts

UTAH▲ 33 pts

JMU▲ 31 pts

BELOW

CAL▼ 42 pts

RUTG▼ 41 pts

MASS▼ 41 pts

AKR▼ 37 pts

CLT▼ 33 pts

Data: U.S. Dept. of Education EADA (2024-25), CollegeFootballData.com. Entertainment only.

Week 9

Best value

#	Team	Spend	Price	P/E	vs
1	LIB Liberty	$23.0M	138.31	13.7	+43.5
2	IU Indiana	$50.2M	153.43	15.3	+36.2
3	UNM New Mexico	$14.7M	115.65	14.2	+33.5
4	UTAH Utah	$41.4M	144.52	15.5	+32.8
5	JMU James Madison	$16.9M	117.12	14.7	+31.1
6	LT Louisiana Tech	$11.1M	104.48	14.2	+30.3
7	BOIS Boise State	$25.8M	128.23	15.3	+30.1
8	UNT North Texas	$15.4M	113.00	14.8	+29.6
9	TOL Toledo	$12.6M	106.06	14.7	+28.3
10	WAKE Wake Forest	$39.4M	138.57	15.9	+28.3
11	OSU Ohio State	$92.4M	162.79	16.5	+28.2
12	UGA Georgia	$71.1M	154.81	16.4	+27.7
13	MISS Ole Miss	$61.8M	148.80	16.5	+25.7
14	ARIZ Arizona	$37.8M	133.23	16.4	+24.1
15	TXST Texas State	$21.6M	117.13	15.9	+24.0
16	ND Notre Dame	$93.3M	158.15	17.1	+23.3
17	MIA Miami	$88.1M	156.24	17.1	+23.0
18	HOU Houston	$23.3M	117.97	16.1	+22.7
19	UTSA UTSA	$17.9M	109.11	16.1	+21.4
20	NU Northwestern	$37.9M	130.09	16.8	+20.9
21	WMU Western Michigan	$11.4M	95.51	15.7	+20.6
22	LSU LSU	$50.7M	137.97	17.0	+20.5
23	LOU Louisville	$30.7M	123.09	16.8	+19.9
24	ALA Alabama	$81.5M	150.66	17.4	+19.7
25	MEM Memphis	$22.0M	112.18	16.7	+18.5
26	TENN Tennessee	$61.2M	141.25	17.4	+18.4
27	BYU BYU	$44.6M	131.98	17.2	+18.2
28	MIZ Missouri	$49.3M	133.17	17.5	+16.5
29	GASO Georgia Southern	$11.2M	90.56	16.4	+16.1
30	TTU Texas Tech	$39.7M	126.00	17.5	+15.5
31	IOWA Iowa	$50.9M	132.79	17.7	+15.2
32	UK Kentucky	$43.3M	128.13	17.6	+15.2
33	FRES Fresno State	$17.7M	101.82	17.2	+14.4
34	JXST Jacksonville State	$15.0M	97.13	17.0	+14.4
35	OHIO Ohio	$10.8M	85.93	17.1	+12.6
36	UL Louisiana	$14.8M	92.46	17.8	+10.0
37	SJSU San José State	$11.9M	86.09	17.7	+9.9
38	WKU Western Kentucky	$11.0M	83.24	17.8	+9.3
39	USC USC	$74.0M	137.39	18.7	+9.1
40	ARST Arkansas State	$11.5M	84.19	17.9	+9.0
41	UNLV UNLV	$20.9M	100.89	18.3	+8.8
42	TROY Troy	$10.3M	80.36	17.9	+8.4
43	UAB UAB	$13.2M	87.21	18.1	+8.2
44	WIS Wisconsin	$40.9M	118.70	18.8	+7.4
45	ECU East Carolina	$16.5M	92.20	18.5	+6.8
46	M-OH Miami (OH)	$11.0M	80.61	18.3	+6.7
47	WYO Wyoming	$13.1M	85.08	18.5	+6.3
48	FLA Florida	$51.8M	123.99	19.0	+5.9
49	DUKE Duke	$47.4M	121.04	19.1	+5.5
50	MICH Michigan	$61.7M	127.80	19.3	+4.8
51	MRSH Marshall	$13.6M	84.56	18.9	+4.7
52	USM Southern Miss	$11.0M	77.60	19.1	+3.7
53	HAW Hawai'i	$13.9M	83.92	19.2	+3.5
54	SMU SMU	$45.3M	117.63	19.4	+3.4
55	TEX Texas	$70.4M	130.16	19.5	+3.3
56	BAY Baylor	$41.1M	114.47	19.5	+3.0
57	CIN Cincinnati	$30.4M	105.50	19.5	+2.6
58	KENN Kennesaw State	$11.5M	77.66	19.3	+2.6
59	APP App State	$13.3M	80.89	19.6	+1.7
60	UCLA UCLA	$55.2M	121.50	19.7	+1.6
61	TULN Tulane	$22.7M	95.08	19.9	+0.6
62	MINN Minnesota	$45.5M	114.38	20.0	+0.0
63	BUF Buffalo	$14.1M	80.30	20.2	-0.6
64	SC South Carolina	$55.9M	119.57	20.1	-0.7
65	CONN UConn	$20.5M	90.30	20.3	-1.3
66	GAST Georgia State	$12.3M	75.55	20.4	-1.4
67	ORE Oregon	$60.8M	121.16	20.2	-1.5
68	SDSU San Diego State	$22.3M	91.80	20.5	-2.2
69	AUB Auburn	$58.7M	119.26	20.4	-2.4
70	USA South Alabama	$13.9M	78.14	20.6	-2.5
71	KSU Kansas State	$27.1M	96.79	20.6	-2.8
72	USF South Florida	$33.4M	102.50	20.6	-3.0
73	FIU Florida International	$12.8M	74.86	20.9	-3.4
74	USU Utah State	$17.3M	82.96	20.9	-3.8
75	KU Kansas	$34.5M	102.51	20.8	-4.0
76	TA&M Texas A&M	$60.2M	117.77	20.8	-4.6
77	MTSU Middle Tennessee	$13.3M	74.50	21.3	-4.8
78	BGSU Bowling Green	$11.0M	68.47	21.6	-5.3
79	BALL Ball State	$8.0M	59.27	21.8	-5.4
80	EMU Eastern Michigan	$11.1M	68.45	21.6	-5.6
81	CMU Central Michigan	$11.6M	69.63	21.7	-5.8
82	ISU Iowa State	$32.3M	98.68	21.2	-5.9
83	WASH Washington	$68.9M	120.20	21.0	-6.0
84	VT Virginia Tech	$37.8M	101.73	21.4	-7.3
85	WSU Washington State	$22.9M	87.35	21.7	-7.4
86	ORST Oregon State	$23.8M	88.47	21.7	-7.5
87	ASU Arizona State	$50.4M	109.41	21.4	-7.9
88	MSST Mississippi State	$37.6M	100.93	21.6	-8.0
89	NMSU New Mexico State	$11.8M	67.73	22.4	-8.1
90	NEV Nevada	$13.0M	69.91	22.5	-8.7
91	NEB Nebraska	$70.6M	117.93	21.5	-9.0
92	OU Oklahoma	$71.2M	118.20	21.5	-9.0
93	UVA Virginia	$33.6M	96.66	21.9	-9.1
94	CCU Coastal Carolina	$17.1M	77.13	22.4	-9.2
95	UNC North Carolina	$49.1M	106.07	22.0	-10.5
96	VAN Vanderbilt	$44.1M	101.82	22.3	-11.7
97	FAU Florida Atlantic	$19.3M	77.90	23.1	-12.0
98	PSU Penn State	$77.4M	116.60	22.2	-12.9
99	NCSU NC State	$40.5M	98.03	22.7	-13.0
100	PITT Pittsburgh	$47.1M	101.78	22.7	-13.6
101	UCF UCF	$38.7M	96.17	22.8	-13.6
102	ODU Old Dominion	$14.8M	68.22	24.1	-14.1
103	TLSA Tulsa	$20.7M	77.80	23.6	-14.1
104	ULM UL Monroe	$7.8M	49.53	25.8	-14.4
105	OKST Oklahoma State	$32.8M	90.59	23.2	-14.5
106	TCU TCU	$59.6M	106.54	22.9	-15.5
107	ILL Illinois	$48.0M	100.12	23.2	-15.8
108	UTEP UTEP	$11.1M	56.97	26.0	-17.0
109	SHSU Sam Houston	$9.7M	52.83	26.6	-17.5
110	WVU West Virginia	$35.3M	88.82	24.1	-18.3
111	CLEM Clemson	$81.1M	112.22	23.3	-18.7
112	BC Boston College	$41.2M	91.96	24.3	-19.6
113	MD Maryland	$35.5M	87.55	24.5	-19.7
114	COLO Colorado	$42.8M	92.76	24.3	-19.9
115	KENT Kent State	$10.4M	51.30	28.1	-20.8
116	SYR Syracuse	$42.1M	90.83	24.7	-21.3
117	NIU Northern Illinois	$13.2M	57.46	27.5	-21.6
118	ARK Arkansas	$57.4M	99.13	24.4	-21.9
119	TEM Temple	$26.3M	75.39	26.2	-23.3
120	PUR Purdue	$37.2M	84.85	25.6	-23.8
121	MSU Michigan State	$48.2M	90.27	25.7	-25.8
122	CSU Colorado State	$21.0M	64.63	28.6	-27.7
123	STAN Stanford	$36.0M	79.64	27.0	-28.0
124	GT Georgia Tech	$42.7M	83.49	27.0	-29.1
125	RICE Rice	$19.6M	60.79	29.7	-29.5
126	FSU Florida State	$83.3M	101.37	26.0	-30.2
127	CLT Charlotte	$15.6M	51.17	32.7	-32.6
128	AKR Akron	$7.6M	26.59	47.7	-36.8
129	MASS Massachusetts	$13.4M	38.92	40.9	-40.6
130	RUTG Rutgers	$75.9M	87.63	29.4	-41.4
131	CAL California	$46.7M	72.70	31.7	-42.4

Spending: football operating expenses each school reported to the U.S. Dept. of Education (EADA, 2024-25). Not NIL or revenue sharing. Schools count costs differently. Price updates weekly; spending stays fixed until the next EADA year. Not disclosed: Air Force, Army, Navy. Not ranked (not FBS yet in 2024): Delaware, Missouri State, North Dakota State, Sacramento State. Entertainment only.