As college football increasingly mirrors the structure and spectacle of professional sports, evaluating programs through a business lens has become more relevant than ever. The Athletic’s Matt Baker estimated what each Power Four football program would be worth if sold like a pro franchise. And for the Miami Hurricanes — one of the sport’s most iconic brands — the result may have raised some eyebrows.
Baker projected Miami's football program at a valuation of $604 million, ranked 24th, placing it just behind Arkansas (23) and ahead of Ole Miss (25). The figure was based on an average football revenue of $75.5 million over the past three years. While the number affirms Miami’s staying power as a national brand, it also reflects how much ground the Hurricanes must still make up on the field.
“Miami was also interesting to place beyond the future of its conference, the ACC,” Baker wrote. “The U brings the appeal of south Florida and a marquee name. On the other hand, the program lacks a home stadium, and its recent returns on investment would politely be described as inconsistent. Miami hasn’t finished in the top 10 or won a conference title since 2003, its final year in the Big East. We decided to treat Miami the same as middle-of-the-pack SEC programs Arkansas and Ole Miss.”
That comparison may come as a shock to longtime Hurricanes fans who remember the dominance of the 1980s, early 90s, and early 2000s — eras when Miami routinely produced NFL talent and competed for national championships. But in the decades since joining the ACC, Miami has struggled to recapture that magic, cycling through head coaches and falling short of national relevance.
Part of the issue, as Baker noted, is structural. Unlike most top-tier programs, Miami doesn’t own its own stadium, instead sharing Hard Rock Stadium with the NFL’s Miami Dolphins. That detachment from campus — coupled with inconsistent coaching and recruiting returns — has made it difficult for the Hurricanes to rebuild the intimidating aura they once carried.
Still, Miami’s brand remains strong. Its location in talent-rich South Florida, its famed swagger-driven identity, and its history of championships make it one of the most recognizable programs in the country.
Thanks to four-year head coach Mario Cristobal, the Hurricanes also continue to pull in strong recruiting classes and boast significant NIL potential (just ask Carson Beck), giving them a solid foundation for future growth.
If Miami can finally translate its resources and location into sustained on-field success, it’s possible the program could shed the “middle-of-the-pack” label. But until that happens, Baker’s $604 million valuation and comparison to the likes of Arkansas and Ole Miss may serve as a sobering — and motivating — reminder of where the U stands today.