The WSJ article is paywalled, but here is a graphic showing the latest calculations by Ryan Brewer, a professor at a branch of a branch university. I don't know how else to classify IUPUI Columbus. Anyway, he says OSU slipped from #1 because of the Zach Smith affair. The article implies he inputs value decisions. How he determines exact valuation of that, I have no idea. I do know OSU took out about 2,500 seats for suite construction. I also know Texas is still getting big donations for renovation of their stadium. In terms of TV revenue, Texas is on par with most B1G schools because of the LHN. Changes in the tax law may come into play for a lot of schools. OSU does not credit Buckeye Club donations to football, though some schools make the distinction. That can cloud apple-to-apple comparisons.
BTW, I still feel ill when I hear the name Ryan Brewer.