According to the Wall Street Journal...
1. Texas Longhorns
National rank: 2
Valuation/Enterprise Value: $1.897 billion
2. Texas A&M Aggies
National rank: 9
Valuation/Enterprise Value: $1.001 billion
3. Texas Tech Red Raiders
National rank: 32
Valuation/Enterprise Value: $389 million
Texas Tech was rated as the most-valued program in the Big 12 by a CNBC study, but is second to Kansas on WSJ's list. While the Big 12 ranks fourth among the power conferences in value, the Red Raiders have sold out of its season tickets for two years straight: hosting smaller in-state opponents like Abilene Christian and North Texas while adding a Dallas Cowboys alum Deion Sanders-led Colorado program to the schedule. In addition, the school built a new south end zone building to Jones AT&T Stadium and Dustin R. Womble Football Center part of a $242-million project to revamp its facilities.
4. TCU Horned Frogs
National rank: 36
Valuation/Enterprise Value: $348 million
5. Baylor Bears
National rank: 60
Valuation/Enterprise Value: $183 million
6. SMU Mustangs
National rank: 67
Valuation/Enterprise Value: $107 million
7. Houston Cougars
National rank: 70
Valuation/Enterprise Value: $90 million
8. UTSA Road Runners
National rank: 75
Valuation/Enterprise Value: $62 million
9. North Texas Mean Green
National rank: 83
Valuation/Enterprise Value: $45 million
10. Rice Owls
National rank: 87
Valuation/Enterprise Value: $38 million
11. Texas State Bobcats
National rank: 88
Valuation/Enterprise Value: $37 million
12. UTEP Miners
National rank: 109
Valuation/Enterprise Value: $27 million
13. Sam Houston State Bearkats
National rank: 130
Valuation/Enterprise Value: $14 million