Louisville, Kansas Top Wall Street Journal's Most Valuable CBB Programs

A study conducted by Indiana University-Purdue University Columbus finance professor Ryan Brewer, in conjunction with the Wall Street Journal, has pegged the University of Louisville as college basketball's most valuable program for the second year running.

According to the Wall Street Journal's Andrew Beaton, Louisville edged out the University of Kansas for the No. 1 spot after Brewer "analyzed each program's revenues and expenses and made cash-flow adjustments, risk assessments and growth projections to calculate what a college team would be worth on the open market, if it could be bought and sold like a professional franchise."

By Brewer's estimates, Louisville's value was pegged at $301.3 million, while Kansas occupied the No. 2 spot at $258.2 million. Final Four qualifiers North Carolina and Syracuse both clinched spots in the top 10, ranking seventh and ninth, respectively.

A complete look at the 50 most valuable programs can be viewed below, courtesy of WSJ Sports on Twitter:

While Louisville maintained the top spot, it's worth noting its projected valuation did drop $66.1 million from last year after the school self-imposed a postseason ban following a recruiting scandal.

Arizona, which made a first-round exit at this year's NCAA tournament, experienced a similar decline after ranking No. 2 overall last year. Its valuation plummeted from $315 million to $235.4 million,.

The University of Oklahoma and Villanova University, this year's other Final Four qualifiers, clocked in far lower than their ACC peers that made the trip to Houston. The Sooners ranked 39th at $51.2 million—up 8.3 percent from last year—while Villanova ranked 54th ($40.4 million) after suffering a 12.9 percent backslide in projected valuation.