On Tuesday, the Wall Street Journal released an interesting article that took a look at which programs in college basketball are the most valuable. based on a study from Dr. Ryan Brewer of Indiana University - Columbus.

According to the Wall Street Journal, Brewer's objective was to determine, to the best of his ability, what college basketball programs would be worth if they could be bought and purchased similarly to professional sports teams.

To determine these values, Brewer studied "revenues and cash flows while making financial projections about the team’s sustainability."

Where Minnesota ranks among the country's most valuable programs may surprise you.

Leading the list of the country's most valuable programs are the ones you would generally expect. North Carolina is No. 1, with an enterprise value of $378 million. Rival Duke is just behind them at $370 million, the only other program in the country above $300 million.

Other schools within the top 10 include Ohio State, Louisville, Arizona, Syracuse, Illinois, Kentucky, and Arkansas.

Coming in at No. 15, however, is the University of Minnesota, with an enterprise value of $164 million. The Gophers rank fifth in the Big Ten in that regard, behind Ohio State, Illinois, Michigan, and Michigan State.

According to the data gathered by Dr. Brewer, the Gophers have a cash flow of approximately $11.8 million and generate over $22 million in revenue. Their $11.8 million in cash flow is 10th-best in the country, while their revenue of $22 million ranks 24th.

Now, what does this all mean? Right now, it's hard to say. First of all, these are mostly projections and not concrete valuations of each program.

“We really don’t know how this is going to work yet,” Brewer told the Wall Street Journal. “It’s all so dynamic right now.”

The Gophers' high valuation is rather notable as well, considering the program's overall lack of sustained success over the last 25 years, with just six NCAA Tournament appearances since the 2000-2001 season. Additionally, as the NIL landscape continues to evolve, it will be intriguing to see if there is any correlation between some of the bigger NIL spenders in college basketball and their projected evaluation from Brewer.

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