Forbes Magazine has ranked the most valuable men’s college basketball teams, and NC State is firmly on that list:
12. NC State Wolfpack
Team value: $17 million
One-year change: 30%
Profit: $11.3 million
Head coach: Mark Gottfried
The Wolfpack’s rapid ascension, with the largest growth in value of any team on our list, ought to come as little surprise to anyone familiar with the school’s recent financial success. NC State has nailed down a new multimedia rights deal (10 years, $49 million), agreed to a more valuable Adidas apparel agreement (four years, $7 million) and surpassed $1 million in licensing revenue for the first time in school history.
Given the interest level in the current team, its legacy and its bright future that’s no surprise. And if somehow the squad’s on-the-court performance could start matching its economic prowess, the value could go even higher. The recognition is of course nice, but keep in mind too that a rising tide floats all boats — the more income the men’s hoops and football teams generate, that means there is more money in the NC State Athletics Department to share with the non-revenue sports to not only keep up with the Joneses in facilities, but also to bring in the best coaches and recruiters to bring in the best athletes to compete in NC State uniforms.