How much is UNC's football program valued at?
Thanks to the invention of NIL money and the transfer portal, college football continues to become increasingly professional by the day.
UNC's 2025 offseason is a perfect illustration of the changing CFB landscape. Needing a starting quarterback for the fall, North Carolina paid $4 million to land South Alabama transfer quarterback Gio Lopez. The Tar Heels replaced their entire starting defensive line through the portal, plus added Marshall kicker Rece Verhoff.
With college football now essentially a "mini-NFL," the question of selling teams comes into play. In The Athletic's recent "valuation rankings", UNC would sell for $572 million, making it the 26th-most valuable college football franchise.
North Carolina is one spot behind Ole Miss, which has a $591 million price tag, plus a spot ahead of South Carolina ($563 million.) The Tar Heels generate an average $63.6 million in annual football revenue, a figure that is lowest amongst the Top 30.
The portal is a great addition to college sports, particularly for senior-heavy teams needing to replace a plethora of starters, but the portal is also essentially free agency. Think about professional sports: you have franchise cornerstones, who remain on the same rosters for extended periods of time, but trades and free agency create a sense of unknown.
UNC has high expectations heading into its 2025 season, thanks to hiring 8-time Super Bowl champion Bill Belichick as its next head coach. If North Carolina somehow wins the ACC and makes the College Football Playoff, its program value will shoot up closer towards SEC numbers.
If the Tar Heels struggle again this fall, their value will stay the same – or even decrease. People are less likely to pay and see a losing product, which UNC proved to be again in 2024.
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