The world of college football is buzzing about the jaw-dropping sums being thrown around for Name, Image, and Likeness (NIL) deals. Lately, stories of a $40 million roster have been making the rounds, fueling all sorts of wild speculation.
But if you talk to people actually in the know, or dig into the real reports, it turns out no program has actually hit that insane number. So, what’s really going on with these figures, and what could it mean for the future of college football?
The $40 Million Roster: Myth or Reality?
Somehow, the idea of a $40 million roster just won’t die. It popped back up when Oklahoma State coach Mike Gundy threw out that Oregon’s 2024 roster was close to that amount.
Oregon coach Dan Lanning pushed back, saying Oregon spends big to compete, sure, but $40 million? Not even close. Pete Nakos from On3 agrees—nobody’s actually reached that number yet, even though spending is definitely on the rise.
The Real Numbers
So, $40 million is mostly hype at this point. But $20 million? That’s pretty much the buy-in if you want to be a serious contender these days.
On3’s recent mid-July survey—covering coaches, administrators, collectives, and agents—shows Ohio State’s roster spending is north of $35 million. Texas Tech isn’t far behind, with more than $28 million.
These numbers really drive home just how much money is being poured into chasing top talent and keeping programs competitive.
Impact of Revenue Sharing and NIL Deals
All this spending comes as college sports enter their first season of revenue sharing. Thanks to the House v. NCAA settlement, schools can share up to $20.5 million directly with athletes in the 2025-26 season.
That cap’s set to go up by about 4% each year, so by 2034-35, we’re looking at roughly $32.9 million. Most SEC programs are planning to spend about three-quarters of that on football, which means $13-14 million or so.
Third-Party NIL Dollars
Third-party NIL money is still a big deal, maybe even more than ever. Collectives rushed to front-load deals this summer before the new national clearinghouse started cracking down on oversight.
The NCAA’s new College Sports Commission now makes athletes report third-party NIL deals worth $600 or more. That’s pushed a lot of money to move quickly before these rules really bite.
Disparate Paths to Success
Some programs are dropping tens of millions, but others are doing well on much less. Illinois, for example, wrapped up the 2024 season with a 10-3 record, and coach Bret Bielema says their roster budget was just around $5 million.
It’s proof that money matters, sure, but it’s not everything. There’s still room for smart coaching and a bit of luck.
Alabama’s Spending
Former Alabama quarterback A.J. McCarron went on a podcast and claimed some teams have $40-50 million in NIL, while Alabama is “less than $20 million.” That’s a hot take, but it’s not really backed up by facts.
Public records say Alabama spent about $5.2-5.3 million on recruiting in 2024, which puts them in the top five nationally. They’re also on board with fully funding the new revenue-sharing system.
When you add in what’s happening with Yea Alabama, their collective, the total football compensation probably gets close to $20 million, but it doesn’t clearly go over that line.
The Future of College Football Spending
Looking ahead, it feels inevitable that college football spending will keep climbing. Revenue sharing and NIL deals are changing the game in ways nobody could have predicted a few years back.
That $40 million roster? Still just a rumor. But with the way things are going, who’s to say it won’t be real before too long?
Key Takeaways
- Current Spending Levels: The top programs are spending around $20 million to remain competitive. Some, like Ohio State and Texas Tech, are even pushing past $28 million.
- Revenue Sharing Impact: The new revenue-sharing model lets schools hand out significant funds right to athletes. This move is pushing overall spending even higher.
- Third-Party NIL Deals: Third-party NIL deals are still a big part of college football financing, even with new oversight in place.
- Diverse Success Strategies: Programs like Illinois show you don’t need the biggest budget to find success. Strategic investments and sharp coaching can make all the difference.
The world of college football is changing fast. Financial investments keep climbing, and revenue sharing plus tighter NIL oversight are reshaping the game in real time.
If you’re curious and want to dig deeper, check out Pete Nakos’ full analysis at College Football Insider Sets the Record Straight on $40 Million Roster Claims.
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