from forbes (2009)-
The North Carolina Tar Heels, who reached the national semifinals in two of the past four years, is once again the most valuable team in college basketball, worth $25.9 million. Last year the Tar Heels generated $16.4 million of operating income (second to only Louisville's $16.6 million) making North Carolina one of only a handful of colleges that made more money from basketball than football. Tar Heel merchandise, including jerseys adorned with the numbers of famed alums like Michael Jordan and Vince Carter, outsold goods from the other 11 Atlantic Coast Conference schools for the 13th consecutive year.
I agree that uk fans are rabid when it comes to basketball, but the money they generate is not that significant, in the overall scheme of things.
so, the most valuable basketball program in the country, pulls in $22 million less that the 20th most valuable football program-
the 20th-ranked Oklahoma State Cowboys, worth $47 million. (per forbes)