Submission by Dr. Glenn Mollette
College sports have entered a new financial era. For the 2025–26 season, the top 25 college athletes by NIL (Name, Image, and Likeness) valuation are earning sums once reserved for professional stars.
Leading the list is Texas quarterback Arch Manning, whose NIL valuation is estimated as high as $6.8 million. Indiana quarterback Fernando Mendoza also ranks among the top 25, with an estimated valuation ranging from $2.2 million to $2.6 million, depending on the source.
These figures reflect how dramatically the college athletics landscape has shifted in just a few years.
Top 25 Highest-Paid College Athletes (2025–26 NIL Valuations)
| Rank | Athlete | School | Sport / Position | Estimated NIL Valuation |
| 1 | Arch Manning | Texas | Football – Quarterback | $5.3M–$6.8M |
| 2 | Carson Beck | Miami (FL) | Football – Quarterback | $4.3M–$4.9M |
| 3 | Jeremiah Smith | Ohio State | Football – Wide Receiver | $4.2M |
| 4 | AJ Dybantsa | BYU | Basketball – Forward | $4.1M |
| 5 | Garrett Nussmeier | LSU | Football – Quarterback | $3.7M–$3.8M |
| 6 | LaNorris Sellers | South Carolina | Football – Quarterback | $3.7M |
| 7 | DJ Lagway | Florida | Football – Quarterback | $3.7M |
| 8 | Darian Mensah | Duke | Football – Quarterback | $3.3M |
| 9 | Bryce Underwood | Michigan | Football – Quarterback | $3.0M |
| 10 | JT Toppin | Texas Tech | Basketball – Forward | $2.8M |
| 11 | John Mateer | Oklahoma | Football – Quarterback | $2.6M–$2.7M |
| 12 | Ryan Williams | Alabama | Football – Wide Receiver | $2.6M–$2.7M |
| 13 | Josh Hoover | TCU | Football – Quarterback | $2.4M–$2.5M |
| 14 | Jayden Maiava | USC | Football – Quarterback | $2.4M |
| 15 | Caleb Downs | Ohio State | Football – Safety | $2.4M |
| 16 | Ty Simpson | Alabama | Football – Quarterback | $2.3M |
| 17 | Yaxel Lendeborg | Michigan | Basketball – Forward | $2.3M |
| 18 | Cade Klubnik | Clemson | Football – Quarterback | $2.2M–$3.4M |
| 19 | Fernando Mendoza | Indiana | Football – Quarterback | $2.2M–$2.6M |
| 20 | Boogie Fland | Florida | Basketball – Guard | $2.1M |
| 21 | Dylan Raiola | Nebraska | Football – Quarterback | $2.1M–$2.3M |
| 22 | Taylen Green | Arkansas | Football – Quarterback | $2.1M–$2.6M |
| 23 | Donovan Dent | UCLA | Basketball – Guard | $2.0M |
| 24 | CJ Bailey | NC State | Football – Quarterback | $2.0M–$2.3M |
| 25 | Sam Leavitt | Arizona State | Football – Quarterback | $2.0M–$3.1M |
Fernando Mendoza: Not the Highest-Paid, But Doing Very Well
Fernando Mendoza may not top the list, but his success illustrates how NIL value is shaped by more than just statistics.
- Major endorsement portfolio: Mendoza has secured partnerships with Adidas, Dr Pepper, T-Mobile, Keurig, Epic Games, and Royal Canin.
- Heisman recognition: He recently won the Heisman Trophy, a milestone that significantly elevates an athlete’s market value and earning potential.
- Authentic persona: Known for his leadership, discipline, and openness about his faith and his mother’s battle with multiple sclerosis, Mendoza’s public image extends well beyond the field.
- Projected NFL future: As a projected first overall NFL Draft pick, his current NIL valuation is viewed as a way to layer leverage ahead of professional contract negotiations.
Several clear trends explain why NIL money has exploded:
- Quarterback premium: Elite quarterbacks dominate NIL rankings, becoming the primary luxury assets for top college programs.
- Transfer portal as free agency: The transfer portal now functions much like free agency, with top players receiving multi-million-dollar NIL offers when switching schools.
- Direct school payments: Beginning in the 2025–26 season, some schools can directly pay athletes through revenue-sharing models of up to approximately $20.5 million per year, in addition to third-party NIL deals.
- How valuations are calculated: NIL valuations are projections—not salaries—based on performance, media exposure, social-media reach (especially Instagram), and, in some cases, family legacy.
- Compliance concerns: Rapid growth and evolving rules have raised concerns that reported deal values may represent only a portion of the actual money changing hands.
Despite these eye-catching figures, most college athletes will never see this kind of money. The majority will rely on full or partial scholarships, and many will receive no direct compensation at all.
As of 2026, college athlete compensation is divided between direct payments from schools and external marketing deals. While a small group of high-profile athletes earn millions, the vast majority of the roughly 200,000 NCAA student-athletes do not receive direct pay for their participation.
College sports can make a few athletes rich—but for most, the promise remains far more modest.
