SAN ANGELO, TX — In the high-stakes world of college football, where talent is the ultimate currency, the introduction of Name, Image, and Likeness (NIL) deals in 2021 has transformed recruiting and roster-building into a financial arms race. 

As the 2025 season winds down with the College Football Playoff (CFP) quarterfinals looming, one question echoes across the Lone Star State: Can pouring millions into NIL truly buy a national championship?

Texas (the entire state, not the university) provides a compelling case study, with four powerhouse programs—the University of Texas Longhorns (UT), Texas A&M Aggies (A&M), Texas Tech Red Raiders (TTU), and Southern Methodist University Mustangs (SMU)—each wielding significant NIL war chests but yielding varied results. From booster-fueled spending sprees to community-driven collectives, their approaches highlight the promise and pitfalls of this pay-to-play era.

As of today, the Texas Tech Red Raiders remain in contention for the national title, set to face the Oregon Ducks in the Orange Bowl CFB quarterfinals at 11 a.m. Central Time on January 1.

NIL is a Billion-Dollar Game Changer

Since the NCAA greenlit NIL, the market has exploded, projected to hit $1.7 billion for the 2024-2025 season, with over $1.1 billion funneled into football alone. Proponents argue it levels the playing field by compensating athletes fairly, while critics decry it as a system where deep-pocketed boosters “buy” rosters, eroding the amateur spirit. 

Adding fuel to this evolution is NIL revenue sharing, stemming from the landmark House v. NCAA settlement approved in June 2025. Effective July 1, 2025, this system allows Division I schools to directly distribute a portion of their athletic department revenues—up to a cap of $20.5 million for the 2025-26 academic year—to student-athletes across sports. This cap is expected to increase by 4% annually, with potential exceptions, and is designed to compensate athletes more like professionals while maintaining some regulatory oversight through the new College Sports Commission. 

Unlike traditional NIL deals, which involve third-party endorsements and sponsorships from brands or collectives, revenue sharing comes straight from school funds (e.g., ticket sales, media rights, and sponsorships), functioning more like a salary pool. 

Schools opting in (most Power Four programs have) must report third-party NIL payments to ensure transparency, but the system coexists with NIL, allowing total athlete compensation to exceed the cap through combined efforts. 

This has led to “payrolls” where revenue sharing covers base pay, and NIL handles bonuses or incentives, though critics argue it exacerbates inequities between resource-rich and smaller programs. In Texas, oil money and alumni networks have propelled programs to the forefront, yet success isn’t solely about the dollar amount—it’s about strategy, coaching, and execution.

Comparing the NIL Approach of Four Texas Teams

Texas’s college football landscape illustrates diverse strategies in blending revenue sharing with NIL. All four programs have opted into the settlement, leveraging the $20.5 million cap to boost recruiting and retention amid the expanded CFP.Team

This table compares the NIL approach of Texas athletic programs (it’s responsive, so use your mouse or finger to scroll right and left)

The Longhorns’ Corporate NIL Powerhouse

The Longhorns, now in their second SEC season, boast what many consider the nation’s top NIL budget: an estimated $35-40 million dedicated to their football roster for 2025. 

Through the Texas One Fund and a partnership with Learfield’s Longhorn Sports Agency (launched in June 2025), UT has adopted a professionalized model, emphasizing brand-building, financial literacy, and high-profile endorsements. Star quarterback Arch Manning’s deals alone reportedly exceed $3.5 million annually, drawing transfers and blue-chip recruits.

This investment paid dividends with a 10-2 regular season, an SEC Championship Game appearance, and a CFP berth. However, playoff shortcomings—including a first-round exit—raise questions about ROI. A high-ranking UT source disputed the $35-40 million figure earlier this year, calling it “irresponsible reporting,” but insiders maintain it’s the benchmark for SEC elites. 

“Texas is built for the long haul,” said one analyst. “NIL keeps them competitive, but championships require more than money—ask the Yankees in baseball.”

The Aggies’ “12th Man” Community Approach to NIL

About 100 miles east of Austin, in College Station, the Aggies have taken a more diversified tack via Texas Aggies United, amassing $51.4 million in total NIL revenue from July 2024 to June 2025—nearly tripling the previous year’s haul. An overwhelming 96% ($49-50 million) flowed to men’s sports, with football claiming the lion’s share through guaranteed contracts tied to performance and academics.

This “retain at all costs” philosophy, bolstered by alumni and corporate sponsors, has secured talents like quarterback Marcel Reed and wide receiver Mario Craver.

The result? An 11-2 campaign, a playoff spot, and early-season dominance, only to falter with late losses to rivals Texas and in the CFP first round.

Critics point to gender disparities (minimal funding for women’s sports) and question if the broad distribution dilutes football’s edge in the brutal SEC. Still, A&M’s model emphasizes sustainability, positioning them as a top-5 NIL spender nationally.

“It’s not just about the check—it’s about building a culture,” an Aggies booster noted, echoing the program’s “12th Man” ethos.

All of the Oil Money Funding Texas Tech’s NIL Program

In Lubbock, the Red Raiders represent the underdog story of NIL efficiency. Led by billionaire alum Cody Campbell’s $25 million donation to The Matador Club, TTU shelled out over $28 million on its football roster in 2025, with plans for $55 million in combined NIL and revenue sharing next year. This aggressive, booster-centric approach—often dubbed “buying the roster”—focused on portal acquisitions and defensive reinforcements, transforming a mid-tier Big 12 team into contenders.

The payoff was undeniable: a 12-1 record, Big 12 Championship dominance (34-7 over BYU), and a CFP quarterfinal berth against Oregon in the Orange Bowl on January 1. While detractors label it “money over culture” and warn of donor dependency, Tech’s rise suggests targeted spending can yield outsized results in a less stacked conference.

“We’ve proven NIL can accelerate success,” said head coach Joey McGuire post-title. “But it’s the relationships that seal it.”

With the Orange Bowl looming, TTU could prove NIL’s championship potential taking on another NIL powerhouse for a slot in the National Championships semi-finals in January.

Oregon Ducks: The Nike-Backed Contender

As Texas Tech prepares to clash with the Oregon Ducks in CFB Quarterfinal game at the Orange Bowl, it’s worth examining Oregon’s robust NIL framework, which has positioned them as a formidable CFP opponent. Backed by Nike co-founder Phil Knight, Oregon’s primary NIL collective, Division Street, was established in 2021 and has evolved into one of college football’s most efficient operations. 

This booster-led model emphasizes innovative marketing and brand partnerships, leveraging Knight’s influence and Nike’s resources to attract top talent. In 2025, Oregon ranked fourth nationally in NIL spending for roster building, per an On3 survey of industry stakeholders, trailing only Texas, Texas Tech, and Ohio State. 

Oregon has fully embraced revenue sharing under the House settlement, distributing the maximum $20.5 million cap while integrating third-party NIL deals to exceed it, potentially reaching $30 million or more in total athlete compensation. 

Enhancements include adding a NIL partnerships manager and content producer in October 2025, partnering with Learfield Impact for technology and marketing support. 

Key players like quarterback Dante Moore boast NIL valuations over $2.3 million, reflecting the program’s appeal. 

This strategy has fueled Oregon’s undefeated regular season and top seeding in the CFP, but as offensive coordinator Will Stein noted, misconceptions about their NIL dominance overlook the program’s culture and coaching. 

Facing TTU’s NIL-fueled surge, the Ducks’ approach tests whether corporate-backed innovation can outpace oil money in pursuit of a title.

SMU Mustangs: The Rising Contender Fueled by NIL

NIL has been a game-changer for the SMU Mustangs, particularly in their 2025 transition to the ACC after a strong Group of Five run. The program’s aggressive adoption—via the Boulevard Collective and new Mustang Partners initiative—has driven record revenues, with football season tickets doubling and overall income surging 157% in their inaugural ACC year. This financial boost enabled high-profile portal acquisitions and retention, contributing to a 10-2 record, ACC contention, and a CFP berth—their first as a Power Four member. Partnerships like Scout NIL provide tools for earnings management and life skills, empowering athletes beyond the field. However, NIL’s double-edged sword has sparked debates: While it fueled opportunity and structured pay via revenue sharing, it also introduced “chaos” through the transfer portal, with rapid roster turnover challenging team cohesion. Overall, NIL has elevated SMU from mid-major to contender, proving smaller programs can compete with strategic spending in the revenue-sharing era.

Does the Money Translate to Championships?

Comparing the quartet: UT’s $35-40 million bought SEC relevance but no hardware; A&M’s $51.4 million (heavily football-skewed) delivered consistency but exposed vulnerabilities; TTU’s $28 million-plus propelled them furthest, claiming a conference crown and deeper playoff run; SMU’s strategic NIL surge secured a playoff spot in their ACC debut. Halfway through 2025, fans throughout the state of Texas got their “money’s worth” with four in-state teams vying for glory, but NIL’s role sparks debate. As one Reddit user pondered in a hypothetical DIII scenario, “How much NIL would it take to build a champion?”—the answer seems: Enough to attract talent, but not without coaching alchemy. 

NIL made college football mirror pro sports: Money helps, but doesn’t guarantee titles—look at MLB or the NBA. With the state of Texas’ new NIL rules looming for 2026 and the transfer portal opening January 2, the experiment continues. For now, NIL can buy contention, but championships? We’ll gain another clue on New Year’s Day at the #4 Texas Tech vs. #5 Oregon semi-final in the Orange Bowl at 11 a.m.

Wyoming is at a serious disadvantage when it comes to NIL. The Cowboys have less money available to pay their athletes than (at least) two nearby universities on a lower level of college football.

Meanwhile, those (at least) two schools are lobbying for their spot in the Mountain West.

This unique situation creates something of a college football case study. At what point is an unsuccessful program forced to move up or down based on financial wealth? Is it time to create a relegation system?

Wyoming is rich, but still broke.

It is no secret that college football is no longer an amateur sport. Players are getting paid, sometimes millions of dollars, and the teams with the most amount of money are able to purchase the best players. Having the best players typically leads to success. Money can buy a national title.

That puts Wyoming in an awkward spot. According to David Madison of the Cowboy State Daily, the Cowboys spend only $1.4 million on its entire roster.

That is the relative cost of just one superstar player in power conferences.

Meanwhile, schools like Montana and Montana State are spending closer to $2.2 million in NIL on their respective rosters. I would guess North Dakota State is not too far behind.

There is one key difference between Montana, Montana State and Wyoming. The former two compete in the Football Championship Subdivision. The latter competes in the Football Bowl Subdivision.

Two schools that compete on a lower level of competition spend nearly twice as much as the Cowboys. And it doesn’t make sense because there is plenty of money in/around Laramie. So where is it?

Due to this lack of NIL money, there is a lot of chatter about the idea that Wyoming could move down. The Cowboys might have more success in the FCS against teams with similar NIL budgets than they do in FBS. It’s not a crazy thought!

However, there is still more money to be made as a losing FBS program than a winning FCS program.

Mountain West schools like Wyoming receive approximately $3.5 million annually from the conference’s television deal with CBS and Fox. Big Sky schools like Montana and Montana State make less.

It makes more sense for the Cowboys to stay right where they are.

“The better question is, why are Montana, Montana State begging to get into the Mountain West?” AD Tom Burman Burman told the Cowboy State Daily. “I can tell you that the top tier of the FCS is willing to pay money to join the Mountain West.”

He is not wrong.

According to Sam Herder, North Dakota State is quietly raising the money necessary to make the job to the FBS. According to Matt Brown, the price to “buy into” an FBS league hovers around $10 million.

Thus, it is actually better for Wyoming to lose every game in the FBS than drop down to the FCS. The boosters need to step up and fund a winning program.

The NCAA transfer portal officially opens for college football players on Friday.

In the final three weeks before the portal opens, quarterbacks began to announce their decisions to enter the transfer portal. DJ Lagway, Dylan Raiola, Sam Leavitt, Josh Hoover, and Rocco Becht will all seek new programs in 2026.

Another quarterback who will be shuffling in the 2026 offseason is South Florida signal-caller Byrum Brown. He will have one season of eligibility remaining at his second school.

While the portal is not officially open yet, Auburn is emerging as a clear destination for Brown next season. The connection to the Tigers is obvious, as former Bulls head coach Alex Golesh accepted the vacancy left by Hugh Freeze on Nov. 30.

Max Olson of ESPN cited the connections between Brown and Auburn in a recent projection for quarterbacks in the transfer portal. Olson said that Brown playing anywhere other than Auburn in 2026 would be a surprise.

“Brown has stayed loyal to his coaches and rejected past portal interest,” Olson wrote. “Now the 32-game starter is ready to prove he can compete at the highest level as a senior.”

The 6-foot-3, 231-pounder arrived under a staff led by Jeff Scott at South Florida in 2022. He played in the maximum four games needed to keep a redshirt, passing for 404 yards, five touchdowns and an interception while rushing for 179 yards and three touchdowns.

Golesh arrived in Tampa during the 2023 offseason. Brown was the Bulls’ starter that season and threw for 3,292 yards, 26 touchdowns and 11 interceptions and rushed for 809 yards and 11 touchdowns. South Florida finished the season 7-6, and Brown set single-season records for passing yards and touchdown passes.

Brown’s 2024 season was derailed by a broken bone in his left leg five games into the season. He totaled 836 pass yards and two touchdown passes while he ran for 269 yards and three touchdowns.

Injuries did not hinder Brown from producing for the Bulls in 2025. He logged 3,158 pass yards, 28 touchdowns and seven interceptions and accumulated 1,008 yards and 14 touchdowns on the ground in 12 games. He was named All-AAC Second Team and College Football Comeback Player of the Year for his efforts in 2025.

Marcus Freeman reportedly told NFL franchises that he is staying at Notre Dame, according to SI’s Pat Forde. Freeman and Notre Dame reportedly agreed to a restructured contract that puts him in the “top tier” among compensation for college head coaches.

Freeman later tweeted from his official Twitter/X account, seemingly confirming the news. “2026…run it back. Go Irish (clover emoji),” he wrote.

That’s pretty good news for Notre Dame fans, who last saw their team win their 10th straight game before opting out of bowl season. Freeman will now attempt to lead the Fighting Irish to the College Football Playoff and a national championship next season. The work at the college level continues.

Prior to Christmas, NFL Network’s Mike Garafolo reported Freeman was expected to be a top candidate for the New York Giants’ vacancy. That is now no longer the case.

Marcus Freeman running it back at Notre Dame, says no to NFL

Freeman, this season, led Notre Dame to a 10-2 finish in 2025. That included 10-straight wins following an 0-2 start, narrowly (and controversially) missing out of the College Football Playoff as the first team out. The year prior, Freeman led the Fighting Irish all the way to the national championship game before coming up short against Ohio State.

Since becoming Notre Dame’s head coach in 2021 — his first stint as a head coach period — he’s compiled a 38-10 record along the way, including a 5-2 record in the postseason. Because the Irish missed out on the College Football Playoff this season, the program opted out of their bowl game.

“As a team, we’ve decided to withdraw our name from consideration for a bowl game following the 2025 season,” the program said in a statement. “We appreciate all the support from our families and fans, and we’re hoping to bring the 12th national title to South Bend in 2026.”

As far as the Giants are concerned, they won only their third game of the season, a 34-10 victory over the Las Vegas Raiders. They’re bound for a high draft pick and a rebuild under a new coach, but it won’t be Freeman. But man, the drama continues in New York as Jaxson Dart’s father recently called out Danny Kanell over the latter’s comments about the rookie QB.

All Freeman has to do now is worry about Notre Dame this coming fall. The Giants’ search continues.

The 2025 coaching carousel proved to be a chaotic one, with 32 jobs out of the 136 FBS programs making changes. Now, the dust has seemingly settled, and USA Today took the opportunity to rank all of those hires from best to worst.

Of those coaching changes, 17 are at the Power Four level. In particular, the SEC and Big Ten saw heavy turnover this cycle, with some surprise openings coming as well. So, there’s no doubt that the coaches involved in this cycle are going to shape the landscape of college football from here on out.

These types of moves are always subjective and what amounts to success at one program can be a disappointment at another. It will also take a few seasons to properly evaluate how everything worked out. All of that is worth remembering as USA Today worked to paint a picture of these hires as best it can in the moment.

The 2025 season was a shock for Penn State, firing James Franklin midseason. Still, he’s an incredibly well-regarded coach who has found a ton of success in his career. Now, he has an interesting new home at Virginia Tech.

Virginia Tech is a Power Four program but it’s also looking at a rebuild. Still, after making the College Football Playoff semifinal in the 2024-25 season, there’s no doubt that Franklin can find that success once again.

The Lane Kiffin coaching saga this offseason dominated the media cycle as he moved from Ole Miss to rival LSU. There was a reason so much emphasis was put on Kiffin, though. He’s been an incredibly successful coach.

Now, the expectation at LSU is going to be to win right away. Certainly, he’ll be given every resource to do so. It’s no mistake that USA Today thinks so highly of the hire.

The Michigan job is one of the best in the country. That’s what made it so interesting to follow when it opened late amid Sherrone Moore being fired for off the field reasons. So, landing on Kyle Whittingham ended up being a win.

USA Today has this as the third-best hire of the cycle. That makes a lot of sense, given that he helped Utah rise from the Mountain West to being a Power Four conference champion. Now, with his 177 career wins, Whittingham is on his way to Ann Arbor.

USA Today ranks Jon Sumrall as the fourth-best hire of this cycle. The former Tulane head coach is coming off a season where he led the Green Wave to the CFP. With that success and ties to the SEC, the hire makes a lot of sense on paper.

Florida is going to be a rebuilding effort for Sumrall. There’s expected to be a lot of roster turnover. So, it may take some time, but Sumrall seems fit to get the job done.

The UCLA Bruins were one of the earliest teams to make a coaching change. In the end, they landed on Bob Chesney, the James Madison coach.

Coming from a CFP run with James Madison, Chesney looks like one of the best young coaches in the game. Predominantly tied to the Northeast, with stops at Holy Cross, Assumption, and Salve Regina, Chesney is now tasked with a Power Four rebuild.

The Penn State coaching search took several twists and turns. In the end, the Nittany Lions landed on Matt Campbell. So, despite that long process, USA Today and several other experts think they made an excellent hire.

Matt Campbell previously turned Iowa State into a contender within the Big 12. That’s no small task. Now, it’s time for him to try and take Penn State from consistently good to elite as a program.

The Michigan State Spartans made a move from Jonathan Smith after two seasons. To replace him, they landed on a longtime Big Ten head coach, Pat Fitzgerald. USA Today has it as the seventh-best hire of the cycle.

Fitzgerald is best known for his time at Northwestern. From 2006 to 2022, he went 110-101 there. That included a lot of success that goes beyond what Northwestern traditionally found. Now, he’s looking to bring that experience with him to Michigan State.

Memphis has the highest rated hired, according to USA Today, amount Group of Six programs. The Tigers hired Charles Huff, formerly of Marshall and Southern Miss, who found tons of success in the Sun Belt. Now, the hope is that he can spark Memphis to an American Championship.

Memphis is in a pretty solid situation as a program. The Tigers won double-digit games in each of the last two seasons. As a program, they haven’t missed a bowl since 2013. Now, Huff wants to get them into the CFP.

Florida moved on from Billy Napier after an unsuccessful tenure. He landed on his feet, though. James Madison brought in Napier to try and replicate the success that both previous coaches have had at James Madison and that Napier had in the Sun Belt.

The Dukes are coming off a Sun Belt Championship, CFP appearance, and sending their last two coaches to P4 jobs. So, success is the expectation. Napier will now need to live up to that.

The Oklahoma State Cowboys moved on from legendary head coach Mike Gundy. This comes after a pair of frustrating seasons for Oklahoma State. In his place, they brought in Eric Morris to replace him moving forward.

USA Today is fairly high on Morris, coming in at 10th. The former North Texas head coach is coming off a year where he produced one of the best offenses in the country and played for a conference championship. So, now, he’s hoping to bring that spark to Stillwater.

Rest of USA Today head coach hire rankings

11. Jason Candle, UConn
12. Jim Mora, Colorado State
13. Blake Anderson, Southern Miss
14. Collin Klein, Kansas State
15. Neal Brown, North Texas
16. Alex Golesh, Auburn
17. Mike Jacobs, Toledo
18. Casey Woods, Missouri State
19. Morgan Scalley, Utah
20. Ryan Silverfield, Arkansas
21. Jimmy Rogers, Iowa State
22. Will Stein, Kentucky
23. Tavita Pritchard, Stanford
24. Brian Hartline, USF
25. Tosh Lupoi, Cal
26. Pete Golding, Ole Miss
27. John Hauser, Ohio
28. Ryan Beard, Coastal Carolina
29. Alex Mortensen, UAB
30. Kirby Moore, Washington State
31. JaMarcus Shephard, Oregon State
32. Will Hall, Tulane

New Penn State head coach Matt Campbell is getting something for the first time in his coaching career — a massive NIL budget to play with.

Campbell was a last resort for Penn State in its coaching search, though it happened to stumble upon a coach who consistently did more with less at Iowa State, who faced recruiting challenges and could not match the resources of a larger-profile school.

More news: Penn State, Matt Campbell Given Update on Rocco Becht Transfer

Now, Campbell gets a chance to compete with the big boys for blue-chip players out of high school and in the transfer portal, and his first test will come on January 2, when he can nab a hodgepodge of talent.

Penn State is a true powerhouse in the sport, an established top school with high ambitions, a big national spotlight, and, according to the latest reports, the ability to pay players competitively.

Per college football insider Matt Fortuna, Campbell will be getting “roughly $30 million in NIL money,” a figure also mentioned in a story from The Athletic.

More news: Lane Kiffin Gets Brutally Honest On Ole Miss Against Georgia in Sugar Bowl

While he will have the resources, Campbell stressed during his introductory press conference that the amount of money is not as significant as how it is spent.

“The financial aspect, I think, is certainly unique,” Campbell said. “One of the great things that we have here is the sacrifice that [Athletic Director] Pat [Kraft] and his team have made to be competitive at the highest level to give yourself a chance to build the best team.

“Now, I think sometimes in college football we can get lost on the financial piece of it. Do I think it’s important? Absolutely. But I think the reality is that it cannot be priority No. 1.

“It’s great to have the money, but it’s using the money wisely. It’s using the resources correctly, building the right team and knowing what you’re trying to spend those things on and making sure it’s about the right things.”

At the turn of the year, Campbell will get to show the ability to use money wisely on a large scale, and if he does, Penn State could quickly become a National Championship contender once again.

More news: Indiana Predicted to Land Top Transfer QB as Fernando Mendoza Replacement

For more college football news, head to Newsweek Sports.