College basketball has entered even deeper into the unprecedented era of massive NIL deals, where top programs are spending $10 million or more on player compensation. What started with headline-making $400,000 contracts in 2022 has exploded into an arms race where mid-major role players can now command seven-figure deals.
The financial transformation is staggering, from zero collective earnings just five years ago to hundreds of millions flowing through the sport today. According to CBS Sports reporter Matt Norlander, at least 10 programs are operating in the “$10 million club” with dozens more spending $7-9 million annually on their rosters.
Are NIL Deals and “Big Money” Ruining College Sports
Based on Norlander’s reporting and other sources, college basketball’s “$10 million club” includes Arkansas, BYU, Duke, Indiana, Kentucky, Louisville, Michigan, North Carolina, St. John’s, and Texas Tech.
These programs either already have $10 million committed or can easily reach that total during the current transfer cycle, making them the dominant forces in transfer portal recruitment.
The spending doesn’t stop there. A second tier of programs, including Auburn, UConn, Florida, Houston, and about 10 other major programs, is spending around $8 million.
Together, these two tiers account for approximately $200 million in NIL commitments for the 2025-26 season, with total Division I spending estimated between $325 and $400 million.
Basketball Fans Debate the Sport’s New Financial Reality
The basketball community appears divided on whether NIL spending is destroying collegiate tradition or finally providing fair compensation.
A Reddit user argues the concern is overblown.
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“People that say ‘this is unsustainable’ aren’t really paying attention to what is going on here… It only seems unsustainable to us normal people that can’t really comprehend just how much ‘F U Money’ these elite donors have.”
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“Florida and Houston proved that it’s about finding the players, recruits, or transfers that fit your scheme best and not throwing a ton of money at the most sought-after player,” one Redditor posted. “Yes, they spent money, but they really went out and found THEIR guys.”
Many fans express concern that the big money flowing through college basketball is creating a competitive imbalance that favors wealthy programs. A user questioned the sustainability.
“You are overestimating the number of schools with wealthy billionaires. Do Cincinnati, UCF, Wake Forest, Syracuse, Wazzu, Iowa State, and Boston College have similar billionaires?” they asked. “It’s changing college athletics into a model where only schools with billionaires can compete.”
The frenzy has created chaotic scenarios where signed agreements mean little. One high-major assistant told Norlander they lost a mid-major player after offering $500,000 when a competing school swooped in with a $1 million deal.
MORE PORTAL NEWS: ‘A Complete S*** Show’ — College Basketball Analyst Slams NCAA Transfer Portal
Reports from CBS Sports detail a chaotic transfer environment in which schools are outbidding each other at unprecedented levels. In one case, a coach described losing a recruit after a competing school offered $1 million, with the player signing so quickly that he only informed the first school afterward.
Contract enforcement has become another battleground. Norlander reports that one coach will pursue legal action against a player who signed a substantial NIL deal but entered the portal seeking more money. “They think we are bluffing,” the coach told CBS Sports. “We are 100% holding them to the contract.”
Many coaches express disbelief at the growing financial disparities. One SEC assistant coach admitted to CBS Sports that several players on his roster will earn considerably more than his own salary next season, illustrating how rapidly the economic landscape has shifted.
With the House v. NCAA settlement expected to bring some regulation to this market, many question whether structural changes can truly put the economic genie back in the bottle.
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