NIL Deals and the New Era of Star Power

Arch Manning Leads at $6.8 Million NIL Valuation

Arch Manning at Texas entered the 2025 season with the highest NIL valuation in college football at $6.8 million.

That number reflects not just his on-field performance but the commercial gravity of the Manning family name, which carries decades of brand equity built by Peyton and Eli.

Manning's partnerships with major apparel, food, and gaming brands operate at a level of sophistication that rivals mid-tier professional athletes.

Manning's NIL ecosystem:

• Has agents, tax advisors, brand managers
• Partnerships structured like pro athlete deals
• Market assessment exists independent of game results
• 19-year-old earning more than most NFL backup QBs

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Quarterbacks Dominate NIL Landscape

Behind Manning, the NIL landscape in college football is dominated by quarterbacks, which is both predictable and revealing.

Carson Beck at Miami commanded a $4.3 million NIL valuation going into the 2025 season. A staggering number for a quarterback who had struggled with turnover issues in Athens but whose fresh-start narrative at Miami made him an attractive commercial partner.

Jeremiah Smith at Ohio State stands as the most compelling non-quarterback in the NIL elite at $4 million.

Why QBs dominate NIL:

• Position has highest visibility on field
• Media coverage centers on QB performance
• Easier to build personal brand around one player
• Smith proves elite WRs can compete with QBs

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Mid-Tier NIL Market Between $3M and $4M

The mid-tier of the NIL market (players valued between $3 million and $4 million) now includes starting quarterbacks at major programs almost by default.

Garrett Nussmeier at LSU ($3.6 million), LaNorris Sellers at South Carolina ($3.7 million), DJ Lagway at Florida ($3.8 million), and Cade Klubnik at Clemson ($3.3 million) all operate in this range.

Regional brand partnerships that drive these valuations are now structured as multi-year agreements with performance incentives.

Mid-tier NIL structure:

• Local car dealerships anchor many deals
• Regional food chains, in-state apparel brands
• Performance incentives parallel pro contracts
• Players have financial motivations beyond scholarships

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Bryce Underwood's $10.5M Deal Changed Everything

The story of Bryce Underwood staying at Michigan for a reported $10.5 million NIL arrangement (the largest ever reported for a college athlete) is the defining NIL story of the 2025-26 cycle.

It demonstrates that NIL can now outbid rival programs not just in terms of playing time or system fit but in raw financial terms that dwarf the scholarship value itself.

Underwood's deal implications:

• Largest NIL arrangement ever reported
• Outbid rival programs in raw financial terms
• Scholarship value dwarfed by NIL money
• Changed how programs approach recruiting battles

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Competitive Balance Consequences Still Unfolding

The consequences for competitive balance are complex and still unfolding.

NIL spending has allowed programs like Vanderbilt, Houston, and Colorado to compete for players they previously could not attract.

On the other hand, the programs with the largest NIL war chests (Texas, Ohio State, Georgia, Alabama, and now LSU under Kiffin) are deploying those resources to maintain an elite roster building advantage that smaller programs cannot match.

The CFB Playoff field in 2025 was dominated by programs in the top quartile of NIL spending.

Competitive balance reality:

• Mid-tier programs can now compete for some players
• Elite programs still maintain advantage
• 2025 CFP field dominated by top NIL spenders
• Correlation or causation still being debated

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Tax Dimension Adds Overlooked Complexity

The tax dimension of NIL adds an overlooked layer of complexity for players and programs alike.

Forbes' breakdown of the top 20 college football stars' 2025 NIL tax bills showed that players earning $4-6 million face effective tax rates that can approach 40% when federal, state, and self-employment taxes are combined.

A player earning $4 million in NIL income is taking home roughly $2.4 million after taxes.

Still extraordinary, but a meaningful reduction from the headline number that the public associates with their deal.

Tax reality for NIL players:

• Effective rates approach 40% for top earners
• $4M deal becomes $2.4M after taxes
• Programs providing tax advisors gain recruiting edge
• Financial education now part of NIL support structure

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The Bottom Line on NIL Star Power

NIL revolution transformed college players into legitimate celebrities (agents, tax advisors, brand managers now standard). Arch Manning leads at $6.8 million (reflects Manning family brand equity, independent of game results). Quarterbacks dominate landscape (Carson Beck $4.3M, Jeremiah Smith $4M proves elite WRs can compete). Mid-tier between $3M-$4M now includes starting QBs at major programs almost by default. Bryce Underwood's $10.5M deal largest ever reported (outbid rival programs in raw financial terms). Tax rates approach 40% for top earners ($4M becomes $2.4M after taxes).

College football is chaos. The Content Lab makes it simple.