Despite not being in the Final Four this year, Kentucky’s men’s basketball program is the most valuable program in college basketball, $342.6 million to be exact. 

Ryan Brewer, an assistant professor of finance at Indiana University and the main researcher of this annual study, values each college team as if it were in the professional franchise market. Revenues, expenses, risk assessments and growth projects are all part of the process.

Brewer found that the Wildcats were up $98.3 million since last year, passing up No. 2 Louisville’s spot at $320.1 million. The reason UK is just now taking its (rightful) place at No. 1? Scores don’t immediately translate into financial results. Since Calipari’s arrival in 2009 though, UK has seen a surge in value.

To read the full story in The Wall Street Journal, click here.