Based on a three-year average for football revenue, Forbes ranked the top 25 most valuable programs in its annual list on Thursday.
Several SEC schools made the cut, but only two Florida programs did.
The University of Florida and Florida State were the only ones from the Sunshine State ranked in the top 25. The list used data from 2015-17 as 2018 revenue numbers are not reported until the end of 2019. According to Forbes, revenues are rounded to the nearest million with annual operating profit used to break ties.
That means the Gators ranked ninth with $117 million as their average revenue, while the Seminoles came in at 15th with $96 million.
Ten of the top 25 on Forbes list are SEC member schools, and Notre Dame (No. 8) was the independent or non-Power 5 team on it.
Forbes reported programs mainly rely on TV deals, tickets, donor contributions and sponsorships for their revenue stream.
ACC schools, which is what FSU is a part of, are on par with the Pac-12 as receiving the smallest conference distribution ($30 million) among Power 5 programs, Forbes reported.
Texas A&M topped the list, edging Texas.
Michigan, Alabama and Ohio State rounded out the top five.
The Miami Hurricanes and other in-state schools such as UCF, USF, FIU and FAU did not make the list.