Interesting and a lot of hard work. Kudos. Makes me think about doing something like this. It's not perfect (then again nothing is). Alabama stands out as severely undervalued. Academics are weighted a little too high, probably why private universities are overvalued. I think Kansas (my school) is about 15 spots too low based on revenue and merchandise sold, but it is hard to please everyone. A few comments:
1) Director's cup seems kind of weak to be a 20% weight. The only sports that matter at all in conference expansion are football and, to a lesser extent, men's basketball. Anything else is just content filler for conference networks for the most part (exceptions B1G hockey and SEC baseball maybe). Maybe some composite ranking from the last decade for football and basketball weighting 2/3 FB and 1/3 BB would be better. Director's cup is heavily influenced by how many sports you sponsor. That is nice, but also a reason so many AD's run in red ink (see UMD). Too many non-revenue sports.
2) Funding: IMO, endowment should really be in academics which it is almost exclusively used for, IMO. I would probably just toss it. You could strictly use AD revenue here and it would be a much stronger indicator. Including endowment here bumps up quite a few programs who really are not all that valuable, but have a few very rich alums or are very old universities with a lot of time for the interest to pile up on their endowments.
3) Following: It should probably be total or avg. football attendance, plus total or avg. basketball attendance, if you use it. It is following, not revenue generated by TV contracts so weighting it so heavily towards football seems unnecessary. Most fans follow both.
4) Markets covered would be a nice addition, even though you feel it will be less important in the future. So far it has been very important for most of the conferences with networks. Population or media markets. Not perfect, but usable. Maybe weight it 10% and cut academics down to 10%.
5) Academics have a part, but 20% is overstating it, unless the B1G is looking at the school, maybe. Ten percent would probably be better if you are valuing for all conferences. Reducing this one thing would probably really help your value chart become more accurate.
Anyway, great job.