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The only football program that has beaten two ranked teams so far this season isn’t even in the Power 4—it’s University of South Florida. USF, which is in the American Conference, is now the only non-power conference school in the AP Top 25.
On Saturday, the Bulls upset the Florida Gators 18-16 with a 20-yard field goal at the end of regulation. Last week, USF beat Boise State, previously the only ranked non-power conference program who have now fallen below the AP Top 25—though they still have an honorable mention.
The Bulls’ win over the weekend hit the Gators especially hard because it was a “pay game”: Florida paid USF $500,000 to play them in The Swamp, assuming it would be a relatively easy win for the formerly No. 13 Gators against an unranked non-power conference program.
The win is even more impressive given that the University of South Florida’s athletic department makes just half of what Florida rakes in.
In the 2024 fiscal year, the Gators notched $200 million in revenue, according to the Knight-Newhouse database, which compiles and shares athletics financial records, while, the Bulls brought in $103.5 million.
The disparity stems mostly from media rights revenues and College Football Playoff distributions. In 2024, USF received about $11.35 million from a combination of media rights distributions from the conference, NCAA payouts, and money from the College Football Playoff. Meanwhile, Florida received $64.65 million from media rights, CFP distributions, and NCAA payouts, according to Knight-Newhouse data.
The Bulls will take on another much richer school next Saturday, when they face off against No. 5 ranked Miami Hurricanes.
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