I realize this article in The Wall Street Journal is behind a paywall, so I’ll briefly summarize the data.

“…according to an annual analysis by Ryan Brewer, an associate professor of finance at Indiana University Columbus. Brewer’s study examines industry trends, cash flows, revenue and broader economic shifts to calculate what every team would be worth if it could be bought and sold on the open market—just like a professional sports franchise.”

Ohio State appears #3 with a valuation estimate of $1,547 million based on various factors including 2025 revenue of $185 million.  Texas (value $2,197 million) and Texas aTm ($1,593 million) are 1 and 2, respectively.

The other top ten are LSU, TCUN, ND, Georgia, Penn State, Bama, and Nebraska.  The cheaters raised more revenue at $200 million but have a lower valuation (interesting) than the Buckeyes.  All of the top 10 teams had higher revenue than OSU except ND $170 million. 
https://www.wsj.com/sports/football/college-football-team-value-16fd09bb?st=PSoPKx&reflink=article_copyURL_share