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Central Michigan men's basketball team valued at $9.4 million according to annual study

The CMU Men's Basketball team huddles before their game against Bowling Green at Quicken Loans Arena, Thursday, March 10, 2016. Monica Bradburn | Assistant Photo Editor

The Central Michigan men's basketball program ranked sixth of the 12 Mid-American Conference teams, valued at $9.4 million in 2015 according to the Wall Street Journal.

The program was valued at $6.7 million in 2015, equating to a 40.5 percent increase — the seventh largest increase of the 174 NCAA Division I teams studied.

Ryan Brewer, an assistant professor of finance at Indiana University-Purdue University Columbus, puts together the annual study.