The Arizona men’s basketball team brought in the fourth-highest revenue in the nation during the 2009-10 season, according to research done by the Memphis Business Journal.

In head coach Sean Miller’s first season, the school earned a revenue of nearly $19.3 million. That came despite the Wildcats missing out on the NCAA tournament for the first time in 25 years and posting an average 16-15 record.

The Wildcats were also ranked No. 8 on the list for what the Memphis Business Journal called game day expenses; UA spent more than $1.7 million in that realm but was 35th in basketball expenses, spending just more than $5.8 million.

The database said Arizona spent $115,400 per player over the course of the season.

The Duke Blue Devils, who won the NCAA title in 2010, led with a revenue of more than $26.6 million. The other college basketball powerhouses in front of Arizona in revenue were Louisville, who raked in $25.89 million, and North Carolina, who brought in almost $20.6 million.

Syracuse, Wisconsin, Kentucky, Indiana, Ohio State and Michigan State round out the top-10 in that order.

The rival ASU Sun Devils were ranked No. 43 in total revenue for the 2009-10 season with almost $8.6 million in earnings.

The projectings showed correlation between spending and winning. Of the top-35 spenders in 2010, 13 appeared in a Final Four from 2005-2011. Every team from 2005-2011 to win a title was in the top-25 spending teams.

Top 5 revenue generators

1. Duke University
Conference: ACC
State: North Carolina
Revenue: $26,667,056
Expenses per player: $137,612

2. University of Louisville
Conference: Big East
State: Kentucky
Revenue: $25,890,003
Expenses per player: $93,417

3. North Carolina
Conference: ACC
State: North Carolina
Revenue: $20,551,168
Expenses per player: $79,021

4. Arizona
Conference: Pac-12
State: Arizona
Revenue: $19,285,038
Expenses per player: $115,400

5. Syracuse
Conference: Big East
State: New York
Revenue: $18,309,470
Expenses per player: $62,650

Source: Memphis Business Journal