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Virginia Tech just spelled out the math behind college football’s future

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Good morning, and thanks for spending part of your day with Extra Points.

On August 18, Virginia Tech athletic director Whit Babcock is scheduled to give a presentation to the school’s Board of Visitors on the current state of the athletic department. That sort of thing isn’t usual…athletic department employees give updates to the board all the time, and given the changes happening in college athletics at the moment, more regular updates wouldn’t be out of the ordinary.

But the slides that do pertain to athletics are uncommon in their candor and specificity, and speak to not only the unique challenges of a school like Virginia Tech, but help flesh out some larger industry storylines in the ACC, television industry, and more.

Doug’s thread is excellent, and I understand some of this deck has already floated around Reddit and various message boards. But I suspect the parts that are most interesting to me might not be the slides that are the most interesting to more casual fans.

First, we have to remember that conference revenue distribution is going to look very different in the ACC than in other power conferences. While most of the major leagues distribute revenue equally, (or at least, equally among conference members that didn’t just join from another conference), the ACC won’t. While a chunk of the conference distribution will be the same for everybody, the league will also give extra money, based on TV viewership from MBB and FB. This tweak was part of the massive settlement between Florida State and Clemson, who were suing in an attempt to leave the league.

Slide 793 of the presentation

The athletic presentation then lays out what programs generated the highest football TV viewership over the last five years. While Virginia Tech was solidly near the top in the late 2010s, the program finished outside the Top Seven in 2023 and 2024.

I’m a little surprised to see Georgia Tech so highly ranked last season, but the other figures line up with about what I’d expect.

TV viewership doesn’t always perfectly correlate with on-field success. SMU, after all, made the dang Playoff last season, and Florida State, uh, didn’t. But the Virginia Tech presentation suggests that on-field performance does help shape where your games are broadcast. The more times you’re playing on ABC or ESPN, the more people are going to watch your team…which means more money in ACC conference distributions.

According to the projections, the biggest financial bumps start to kick in once Virginia Tech wins nine games or more. At nine wins, the program could reasonably expect five games on network TV, leading to more eyeballs, and thus, a larger cut of conference revenue distributions. The revenue difference between eight wins and nine wins, based just on how the school is modeling ACC revenue distribution probabilities, is over a million bucks.

If you’re about my age (I’m 38), that doesn’t seem like a particularly outrageous expectation. Virginia Tech wins nine games all the time, right?

Well, no. Since 2012, the Hokies have hit or cleared that bar only twice, most recently in 2017. The team was consistently excellent from the mid 1990s through 2011, but the last 15 years or so have not been as kind.

Like most things in college football, getting more TV eyeballs will be easier if you win. But that isn’t the only way to do it. Babcock also points to the value of out of conference scheduling (Tech has future games scheduled with Maryland, Arizona, Wisconsin, Ole Miss, South Carolina and Alabama, plus regular games against Notre Dame), maximizing when games are played, and marketing campaigns to drive awareness and attention.

Winning, usually, takes money

Much of the presentation also centers on where Virginia Tech stacks up, financially, with their conference peers.

I’m a little curious as to where exactly these numbers are coming from, since they are a little different from the MFRS numbers I’ve obtained via all the FOIAs I file for the Extra Points Library. For example, I have Clemson at roughly $182 Million in total operating expenses from FY24, not 190. I have Virginia at about $146 Million instead of $140, etc. But my figures are generally pretty close to this table.

FWIW, I am unable to FOIA Pittsburgh and get a copy of their report, but the Virginia Tech presentation has their department at roughly $130 million in spending.

I don’t think you need to be Encyclopedia Brown to figure out that the Private Institution at $215 million would be Notre Dame.

No matter how you massage the numbers from the MFRS reports or any other data source, Virginia Tech’s athletic spending would be near the bottom of the ACC, and certainly near the bottom of their public school peers.

So how do you get more money? Sounds like Virginia Tech is considering the same ideas that everybody else in the industry is considering…everything.

And honestly, I think this is a pretty smart way of evaluating some of those potential strategies. Some ways to grow revenue are completely in the control of the university athletic department. Some are very much the purview of university leadership, if not lawmakers or state bodies. Some are not even completely in the school’s control at all. Winning, after all, can’t be a financial strategy. Somebody has to lose every game.

I could be wrong, because this presentation hasn’t officially happened, and I can’t pretend to speak with perfect expertise on the various local and university-specific political factors at play. But my reading of this deck is that Virginia Tech would like more direct university support as they try to ramp up athletic spending and investments.

And what happens if revenue doesn’t grow? Or more importantly, if Tech doesn’t improve on the field and on the court?

These questions are similar, but they’re not exactly the same thing. After all, Virginia Tech wasn’t swimming in cash when BeamerBall was breaking skulls across America during the early 2000s. The school is not going to relocate to some massive television market or suddenly outspend Florida State or UNC. You want to grow revenues, absolutely, but if the goal is complete financial parity with the biggest brands in the sport, that’s never going to happen.

Babcock argues that Tech athletics provides unique value to the university community…in earned media, in driving interest to the school both in and out of the state, in community engagement, and other areas beyond dollars and cents. I think many college sports administrators, coaches, and fans would make similar arguments about their school.

But the presentation also notes that college football is likely to undergo massive changes. I don’t think this slide is going to break any news or anything…this is essentially what every sports radio host asks me about when I get booked, and it’s an undercurrent of every industry event I attend. But here’s how the school sees the current reality:

Where does Tech sit in those scenarios? Can they control (via fundraising and on-field success) where the program ends up? Given the other needs and obligations of the university, can they afford to spend what might be needed to get where they want to go?

I don’t know. But it speaks to the urgency of not just finding financial and organizational solutions, but talking frankly and honestly, as a university community, about what you actually want. And if being on the right side of that proverbial cutoff line is what everybody wants…well…then what is required to generate the required resources?

The whole deck is worth a read, in my humble opinion. Sometimes, it’s nice to see of this stuff spelled out explicitly on a PowerPoint.



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Greg McElroy states Fernando Mendoza is the best college football quarterback since Joe Burrow

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Former Alabama quarterback turned ESPN analyst Greg McElroy delivered one of the boldest quarterback evaluations in recent college football memory. He’s placing Fernando Mendoza in rare air during the latest episode of Always College Football.

According to McElroy, Mendoza’s current level of play puts him in a category few have reached over the past decade: “This is not the traditional Indiana football,” McElroy said. 

“This is a Madden simulation that’s set on rookie difficulty. Fernando Mendoza at the center of it all. He is not just physically gifted, but he has that Ivy League processing.”

McElroy went a step further, comparing Mendoza’s efficiency and command of the offense to the very best quarterback season of the modern era: “I look at him and I know there’ve been some great quarterbacks in the last five years, like Caleb Williams, Bryce Young. A bunch of incredible football players,” McElroy added. 

“But this to me feels like one of, if not the best quarterbacks we’ve seen in college football since Joe Burrow.”

Of course, that’s a lofty comparison. Burrow’s rise at LSU was well documented, but Mendoza’s rise has been one of the most compelling storylines in the sport. 

After transferring from Cal to Indiana, he immediately took control of the Hoosiers’ offense, leading it with surgical precision. McElroy highlighted Mendoza’s completion percentage north of 73 percent as evidence of his elite efficiency and decision-making.

“He becomes the CEO of the offense,” McElroy explained. “His story is kind of Shakespearean in some ways.”

That efficiency was on full display in Indiana’s Peach Bowl matchup against Oregon, one of the nation’s top defenses. Facing a unit ranked among the best in pass defense, Mendoza delivered a near-perfect performance.

“He was a cool 17-for-20 for five touchdowns,” McElroy delineated. “That is clinical execution and it just kills you every single snap.”

Moreover, McElroy emphasized Mendoza’s ability to diagnose defenses before the snap, punish coverage mistakes instantly and anticipate windows before they open. Things that have the Indiana offense rolling at the moment.

“He anticipates your move and then boom. He punishes you before the ball even leaves his hand,” McElroy explained.

Beyond the arm talent, McElroy also pointed to an underrated aspect of Mendoza’s game in his mobility. With 429 rushing yards and six touchdowns this season (excluding sack yardage), Mendoza has consistently extended drives with his legs.

“He’s not a burner, but he’s football fast,” McElroy stated. “He’s slippery. You think you’ve got him bottled up on third-and-three, and then boom, he falls forward and it’s a first down.”

As Mendoza continues to carve up defenses, McElroy’s assessment underscores just how special Indiana’s quarterback has become. His name is now being mentioned alongside the very best the sport has seen in the past decade, but we’ll see if he can cap off this run with a national title next week.



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Indiana football roster too old? No, Hoosiers just have better players

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Updated Jan. 13, 2026, 7:53 a.m. ET





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Illinois, Daktronics Install Largest Video Display in College Football

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F26 New Season Deposits 1920x480

The following release is courtesy of Daktronics.

BROOKINGS, S.D. – The Fighting Illini turned to Daktronics (NASDAQ-DAKT) of Brookings, South Dakota, to design, manufacture and install the largest main video display in college football, totaling 17,300+ square feet. The project includes 16 LED displays that combine for more than 26,750 square feet and 30 million pixels at Gies Memorial Stadium on campus at the University of Illinois in Champaign. The project will be completed ahead of the 2026 college football season.

“We are excited to partner with Daktronics to bring the largest videoboard in college football to Gies Memorial Stadium,” said Director of Athletics Josh Whitman. “These new visual resources reflect our commitment to providing one of the nation’s best game day experiences. Under Coach Bielema’s leadership, and with an electric fan base that is now filling our stadium to near capacity, our program has become one of the most successful and exciting in major college football. We are thrilled to make this major investment in our historic stadium – one of the sport’s great venues – as we continue our efforts to enhance the experience for our fans, student-athletes, and others, all with an eye toward building a championship program.”

Main Video Display Details

The new south end zone display will measure approximately 69 feet high by 250 feet wide and will feature a 10-millimeter pixel spacing for high-resolution imagery and improved contrast. The size of the display will allow for larger-than-life content, including live video, instant replays, graphics, animations, game statistics and sponsorship messages.

The display features 16 million pixels and would be the fifth-largest display in professional football. It is roughly the same size as the main outfield display at Citi Field in New York and 3.4 times the size of the main display at Soldier Field in Chicago. For reference, it would take 1,621 60-inch televisions to cover the entire display.

“We’re excited to partner with the University of Illinois on this project to bring the largest display in college football to life,” said Daktronics Vice President of Live Events Jay Parker. “College football is a tradition that brings people together and creates unforgettable moments. This project reflects the passion and scale of college football, and we’re proud to help make those memories even more impactful in Champaign, Illinois.”

Top 10 Largest Displays in College FootballTop 10 Largest Displays in College Football (2026)













1. Illinois

17,315 sq. ft.

2. Auburn

10,690 sq. ft.

3. Purdue

8,461 sq. ft.

4. Oregon

8,208 sq. ft.

5. Michigan

8,165 sq. ft.

6. Wisconsin

7,941 sq. ft.

7. Utah

7,808 sq. ft.

8. Oklahoma

7,803 sq. ft

9. Mississippi State

7,777 sq. ft.

10. Texas A&M

7,635 sq. ft.

Additional LED Display Details

Supplementing the in-bowl experience, a super ribbon in the north end zone and two sideline ribbon displays are being installed along the seating fascia as well as two field-level displays and eight bleacher displays being installed as well. The north end zone super ribbon measures roughly 12.5 feet high by 180 feet wide and each sideline ribbon measures roughly 4 feet high by 427 feet wide. Both field level displays measure nearly 5.5 feet high by 34 feet wide. All three ribbon displays and both field-level displays feature 10-millimeter pixel spacing.

The eight bleacher displays each measure roughly 5.5 feet high by 12 feet wide and feature a tight 2.9-millimeter pixel spacing. These displays deliver additional statistics, graphics and sponsorship messaging throughout events.

On the backside of the main video display, two video displays face outside of the stadium to connect with fans as they arrive and experience the game-day atmosphere. These displays each measure 29.5 feet high by 52.5 feet wide, feature 10-millimeter pixel spacings and are some of the largest backside displays in college football. Its flexibility allows for pre-game hype videos, post-game victory animations showcasing the score for fans to celebrate, promotional opportunities for upcoming games and university events, and sponsorship or university messaging needs.

Daktronics is also including a complete Show Control solution including Camino with this installation. This industry-leading control system provides a combination of display control software, world-class video processing, data integration and playback hardware that forms a powerful yet user-friendly production solution. The addition of Camino to the control system will provide a new level of functionality to create dynamic, real-time rendered content never before possible in a Daktronics system.

Camino opens up creative possibilities to display visuals in a 2D/3D space, incorporating data-based logic to automate production elements, and developing timelines within a single piece of content so it can react in real time as the event unfolds.

In addition to the equipment installation, the Fighting Illini will also receive a content package that will be produced and delivered by Daktronics Creative Services.

Daktronics has grown with the sports industry from the company’s beginnings in 1968. Today, the company has LED video display installations at hundreds of colleges and universities across the United States. For more information on what Daktronics can provide for the collegiate market, visit www.daktronics.com/college.

About Daktronics

Daktronics helps its customers to impact their audiences throughout the world with large-format LED video displays, message displays, scoreboards, digital billboards, audio systems and control systems in sport, business and transportation applications. Founded in 1968 as a USA-based manufacturing company, Daktronics has grown into the world leader in audiovisual systems and implementation with offices around the globe. Discover more at www.daktronics.com.

Safe Harbor Statement

Cautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is intended to enjoy the protection of that Act. These forward-looking statements reflect the Company’s expectations or beliefs concerning future events. The Company cautions that these and similar statements involve risk and uncertainties which could cause actual results to differ materially from our expectations, including, but not limited to, changes in economic and market conditions, management of growth, timing and magnitude of future contracts and orders, fluctuations in margins, the introduction of new products and technology, the impact of adverse weather conditions, increased regulation and other risks described in the company’s SEC filings, including its Annual Report on Form 10-K for its 2025 fiscal year. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.



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Jordan Seaton enters transfer portal: Colorado OT can expect NIL bidding war

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Colorado offensive tackle Jordan Seaton is the college football transfer portal’s best-available prospect after announcing entry with a goodbye letter. The 6-foot-5, 330-pounder was a five-star signee for Deion Sanders and Colorado as the gem of its 2024 recruiting cycle. He projects as one of the 2027 NFL Draft’s top prospects.

Seaton, the No. 4 overall transfer per 247Sports and the top offensive tackle, can expect quite the bidding war with NIL money.

“(His) reported asking price is around $2.5M,” 247Sports’ college football and transfer portal analyst Cooper Petagna said. “I would expect him to receive north of $3 million considering the number of tackle needy contenders.”

During his high-school recruitment, Maryland was in the mix for Seaton, a former Washington (D.C.) St. John’s College High star, as coach Mike Locksley developed a relationship with the massive blocker. The third highest-rated recruit in Colorado history, Seaton started all 22 games during which he appeared with the Buffalos.

Seaton’s exit is Colorado’s biggest loss this offseason. Seaton played 1,421 offensive snaps over his two-year stint, grading out at 67.2 as a true freshman in 2024 and 65.8 as a sophomore this season, via Pro Football Focus.

The Buffaloes lost more than three dozen players to the portal since their season-ending loss at Utah to finish 3-9.

“The thing about these guys man, you’ve got to understand when a guy leaves a program that selected him or picked him out of the portal, he leaves for a multitude of reasons,” Sanders said about Colorado’s expected roster changes. “The No. 1 reason people leave is money. It’s not a disdain for staff or a disdain for player, it’s money. Let’s just be honest man and stop sugar-coating this foolishness. That’s why most people leave. 

“I admire the guys that want to go for another opportunity or bigger opportunity and play for a national championship … I applaud that, but that’s not the No. 1 reason people leave programs.”





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Arizona State football ranks in middle of Big 12 in NIL dollars, agent says

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TEMPE, AZ (AZFamily) — Arizona State ranks somewhere in the middle of the Big 12 Conference for football name, image and likeness (NIL) spending, according to a Tempe-based agent.

Peter Boyle, founder and CEO of Activate Sports Management, said ASU has made significant progress since NIL rules were implemented in July 2021.

“If I were to guess based off what I see when you’re talking about football, which is primarily what people are talking, and men’s basketball,” Boyle said. “Keep in mind, there’s baseball NIL and softball NIL and volleyball. Those programs also have revenue share, although to a much lesser degree. But when it comes to football, I would put ASU somewhere in the middle of the Big 12.”

NIL transforms college sports

More than four years after NIL rules were first put in place, the impacts on college sports are becoming clear.

“It’s professional sports now,” Boyle said. “I have a kind of thing where, when my clients sign their first deal, I say welcome to professional sports. Like it is that.”

Boyle said contracts from some schools include incentive-based payments.

“You literally see contracts from some schools, not the Big 12, but I have clients across all different Power 4 schools that have, like, incentive-based payments in them,” he said. “Like, if you are the Big Ten Player of the Week, that’s another $10,000. So, these are professional sports contracts.”

When it comes to quarterback Sam Leavitt, Boyle believes his move to LSU is largely about money.

ASU’s NIL progress

Universities do not report their NIL dollars publicly, making exact comparisons difficult. However, Boyle said he has insight from running a NIL agency based in Tempe.

Three years ago, Boyle would have ranked ASU at the bottom of the pack. NIL dollars differ by conference, with SEC and Big Ten deals typically exceeding Big 12 amounts, though the gap has narrowed.

Boyle has insider knowledge from ASU athletes he represents.

“What they were making three years ago is what a lot of the roster makes now. And those are the top paid guys,” he said. “So it’s a notable difference for sure.”

Donations versus business deals

ASU football coach Kenny Dillingham recently spoke at Mountain America Stadium about finding a wealthy person in Phoenix who could give the football program $20 million. However, Boyle said large donations are not the answer.

“If a donor gives $20 million today, what does that do? It’s monopoly money,” Boyle said. “Because that’s not a business deal that has true business value that can be put into NIL go and pass the CSC. That’s a donation. That’s the old model.”

Boyle said a large donation could help offset revenue share costs and provide ASU more money for facilities, but if the university is playing by the rules, such a donation would not help with NIL deals.

Business deals are more important in college sports, according to Boyle.

“I think if businesses get involved and they can pass through the CSC and be true NIL deals, then there are certainly businesses that hopefully would get involved that would significantly increase ASU’s value provide above cap or above market deals,” he said.

Boyle said he expects the current NIL system to continue without significant changes and that fans should get used to the new landscape.

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Here is the latest Big 12 Conference sports news from The Associated Press

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The College Sports Commission has rejected nearly $15 million in name, image, likeness agreements since it started evaluating them over the summer, representing…

UNDATED (AP) — The College Sports Commission has rejected nearly $15 million in name, image, likeness agreements since it started evaluating them over the summer, representing more than 10% of the value of all the deals it has analyzed and closed. The CSC says it did not clear 524 deals worth $14.94 million, while clearing 17,321 worth $127.21 million. All the data was current as of Jan. 1. The numbers came against the backdrop of a “reminder” memo the commission sent to athletic directors last week, citing “serious concerns” about contracts being offered to athletes before they had been cleared by the commission through its NIL Go platform.

UNDATED (AP) — Arizona has tightened its hold on the top spot in The Associated Press men’s college basketball poll after Michigan’s loss to Wisconsin. The Wildcats received 60 of 61 first-place votes. Iowa State moved up to No. 2, followed by UConn, Michigan and Purdue. Nebraska moved up two spots to No. 8 to match its highest-ever ranking set in February 1966. Vanderbilt hit No. 10 for its first top-10 ranking since the 2011-12 preseason poll. No. 19 Florida, No. 22 Clemson, No. 23 Utah State and No. 25 Seton Hall were the new additions to the poll. Kansas, SMU and UCF fell out.

UNDATED (AP) — South Carolina climbed to No. 2 in the latest AP women’s basketball Top 25. The reshuffle follows a week where four of the top 10 teams lost. UConn is No. 1. LSU and TCU jumped into the top 10, with LSU moving to No. 6 after beating Texas. Texas dropped to fourth, while No. 5 Vanderbilt has its highest ranking since 2002. Maryland and Oklahoma fall out of the top 10, and Alabama, Notre Dame, and Illinois entered the poll. The SEC leads with nine teams in the Top 25.

Copyright 2025 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.     



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