updated: 3/29/2013 12:16:39 PM
Even though Indiana University's men's basketball team was eliminated in the NCAA tournament Thursday night, preliminary research suggests the program is one of the most valuable in the country, and by far the top in the state. Indiana University-Purdue University Columbus Assistant Professor Ryan Brewer has valuated teams as if they were corporate entities. In an interview to air this weekend on Inside INdiana Business Television, he explains why Butler University also fares well.
Brewer has determined the following valuations for Indiana college basketball programs:
Indiana University: $183.2 million
Purdue University: $82.2 million
Butler University: $7.7 million
University of Notre Dame: $6.5 million
University of Evansville: $3.8 million
Brewer's valuation research on college basketball and football programs has previously been published in the Wall Street Journal.
Syracuse University defeated IU 61-50 in the Sweet 16 round of the tournament.
The NCAA tournament continues over the weekend with games in Indianapolis. Visit Indy estimates the games will generate approximately $15 million for the region's economy.
Sources: Indiana University-Purdue University Columbus, Inside INdiana Business, Visit Indy