According to a report form CNBC, the Oregon Ducks ranks as the No. 17 valuable college athletic program in the country. The rankings exclude military academies and only included schools within the NCAA’s Football Bowl Subdivision or FBS.

Joining the Big Ten Conference this season, Oregon was valued at $780 million with a $151 million revenue.

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Here are the Top Ten programs on the list:

No. 1 Ohio State Buckeyes – $1.32 billion valuation, $271 million revenue

No. 2 Texas Longhorns – $1.28 billion valuation, $280 million revenue

No. 3 Texas A&M Aggies – $1.26 billion valuation, $279 million revenue

No. 4 Michigan Wolverines – $1.06 billion valuation, $230 million revenue

No. 5 Alabama Crimson Tide – $978 million valuation, $200 million revenue

No. 6 Notre Dame Fighting Irish – $969 million valuation, $224 million revenue

No. 7 Georgia Bulldogs – $950 million valuation, $210 million revenue

No. 8 Nebraska Cornhuskers – $943 million valuation, $205 million revenue

No. 9 Tennessee Volunteers – $940 million valuation, $202 million revenue

No. 10 Oklahoma Sooners – $928 million valuation, $199 million revenue

The Southeastern Conference is worth roughly the most out of all the power conferences at $13.3 billion, an average of about $832 million per school. The Big Ten is next at about $13.2 billion, an average of approximately $734 million per school. In the Top 75 athletic programs listed, every one of the sixteen SEC schools are listed and every one of the eighteen Big Ten schools are listed. This is in part to the massive media rights deals for the SEC and Big Ten.

The list is created on the revenue base multiple of four for all institutions and then adjusted by each school’s conference affiliation, estimated NIL (Name, Image, Likeness) spend, school subsidies, and number of alumni.

According to Grant Hughes of 247 Sports, Oregon’s estimated NIL valuation is around a $23 million budget. On3 listed Oregon’s Division Street as the No. 4 top NIL collective in all of college athletics. Nike co-founder and Ducks’ booster Phil Knight is the co-founder of the group.

Oregon offers a variety of subsidies, including federal direct loans, textbook and and course materials, federal grant programs, childcare, PhD programs, presidential scholarships. The university has over 269,000 living alumni.

Coach Dan Lanning had made it clear that without the generosity of Knight and all the funding, Oregon’s college football program would not be where it is has ascended to today.

“There’s not a top-10 program in the nation that’s not funded and in a good position to compete, or they wouldn’t be a top-10 program.”

– Oregon coach Dan Lanning