CNNMoney just reported that college football made a $1.1 billion profit in 2010. You can read the article here.
Just a couple tidbits from the article:
Profit for the 68 teams that play in the six major conferences was up 11% from a year ago
On average, each team earned $15.8 million last year, or well over $1 million per game
Here are the most profitable teams in 2010:
Texas – $93,942,815 in revenue and reported $68,830,484 in profit
Georgia – $70,838,539 in revenue and reported $52,529,885 in profit
Penn State – $70,208,584 in revenue and reported $50,427,645 in profit
Michigan – $63,189,417 in revenue and reported $44,861,184 in profit
Florida – $68,715,750 in revenue and reported $44,258,193 in profit
Profit doesn’t always translate to victories on the field – see Texas.