Name, Image, and Likeness (NIL) refers to rules/laws in the US that allow a college student athlete the right to earn money from endorsing products/services, being sponsored by brands, and from use of the athletes own name, image, or likeness.

The National Collegiate Athletic Association (NCAA), the regulatory body for student athletics in the US, opened the door to NIL compensation for student athletes in July 2021. This was after years of litigation by student athletes and mounting pressure from state legislatures, both of which made the NCAA’s old amateurism rules for college sports increasingly difficult to defend and uphold.

Before NIL compensation became legal for student athletes, a student athlete could lose their sports eligibility for something as simple as signing an autograph for cash. However, now that NIL compensation is legal, some student athletes are negotiating seven-figure deals before they’ve played even a single college snap.

Darian Mensah, the quarterback for the football team of Duke University, currently holds the highest NIL valuation in college sports at $6.5 million, according to On3 Media’s live NIL Valuation database.

On3 Media, or On3 for short, is a sports media and technology company that covers youth and collegiate sports, including NIL valuation. The company’s NIL Valuation database is an industry-leading index for tracking annual NIL contract values that are signed by student athletes at the high school and college level. As a result, NIL valuation from On3 is often the number that people mean when they cite an athlete’s NIL worth

The methodology used by On3 for its NIL Valuation tracker, which was launched in 2021, has changed over time to reflect major shifts in athlete compensation. It was initially a proprietary algorithm that established a baseline market value for Nil contracts when there was little public information in the NIL marketplace. As of July 1, 2026, however, On3 has changed its methodology from a projection-based algorithm to a deal-based model.

Now, an On3 NIL Valuation reflects a student athlete’s current contract value instead of an estimate of an athlete’s market value, thus providing information on student athletes’ actual compensation packages from colleges/collectives. On the On3 NIL Valuation tracker, a valuation with a green checkmark on an athlete’s profile reflects a confirmed player contract, while everything else is an informed estimate from On3 and Rivals insiders, built from reported negotiations, market demand, and known deal activity.

It is important to note that a valuation is not the same thing as a signed number, because a valuation is simply the market’s best read on what a student athlete’s total current compensation, mostly from schools and collectives, is worth at any given moment. This is a crucial difference because a contract’s valuation and deal value drift are often very different from each other.

Fox Sports made this point using Shedeur Sanders as an example: Sanders he carried a $4.7 million NIL valuation despite not being a Heisman finalist. He then went on to be picked in the fifth round of the NFL Draft. Saunders’ performance on the field was merely one input, in addition to position, program market size, and collective spending power, all of which often matter more.

On top of all of this, the NIL market has changed over time. What used to be considered High NIL valuations, such as those for Shedeur Sanders, Bronny James, Livvy Dunne, and Cooper Flagg, athletes who were considered NIL “headliners” for a period, pale in comparison to what the market offers to student athletes today.

The major reason for this is that now revenue-sharing exists, whereby student athletes’ educational institutes can now pay the athletes directly under settlement terms that took effect in mid-2025. Meanwhile, collectives that used to operate as the only channel for NIL money now compete alongside direct university payments.

The direct result of this change in the NIL landscape is a market with more money for student athletes moving through more channels, which is part of why the numbers in the ranked list below of the 25 highest NIL valuations look so different from what a list like this would have shown even eighteen months ago.

The 25 Highest NIL Valuations

The list below is a useful structural reference for NIL valuations, of which Fox Sports published its own version in June 2025. The data in this list is more than a year old as of September 2026, which is important to note since college sports are characterized by a fast-moving, ever-changing landscape.

As of now, roughly 15 of the 25 athletes on the list below have altogether dropped out of On3’s top 100 spots. The is because these athletes have either graduated, moved on to play professionally in the NFL, transferred somewhere that changed their number, or simply got passed by a market that keeps producing new money.

The list below has been rebuilt from On3’s current rankings. It keeps the student athletes who are still on the board and fills every open slot with whoever holds that rank today, regardless of sport. A number of the student athletes in the list below play basketball instead of football, but they are nevertheless included here because that’s where a large portion of the market’s biggest NIL numbers are at present.

Additionally, there are two more things to note about the list below:

  1. Brand deals and collective compensation are very different, and are thus separated in the list below wherever the reporting allows it, since lumping them together (like most coverage does) muddies what “NIL deal” even means for a given athlete.
  2. The “then vs. now” table just below should be noted, as nobody’s NIL valuation is fixed. Arch Manning’s valuation fell by more than half in fifteen months. Darian Mensah’s more than doubled.

Largest Reported NIL Deals

The table below shows the largest specific deals referenced in current and past reporting on athletes in this list.

Athlete Reported Deal Type Source
Bryce Underwood $10.5 million over 4 years Collective (Michigan) cleveland.com
Darian Mensah $8 million Collective (Duke) CBS Sports
JT Toppin ~$4 million NIL, pre-transfer decision On3 report via wreckemred.com
Donovan Dent $3 million ($2M upfront, $1M during season) Collective (UCLA transfer) Santa Fe New Mexican via Yahoo Sports
Yaxel Lendeborg ~$3 million Collective (Michigan transfer) CBS Sports

 

NIL valuation is a market estimate, while a reported deal is much closer to an athlete’s actual compensation package, even if it’s still frequently a leak or an insider report rather than a confirmed figure.

Then vs. Now: The Biggest Valuation Swings

Athlete Fox Sports (June 2025) On3 Current (Sept. 2026) Change
Darian Mensah $2.8M $6.5M Up $3.7M
Sam Leavitt $3.1M $4.5M Up $1.4M
JT Toppin $2.8M $4M Up $1.2M
Josh Hoover $2.4M $4M Up $1.6M
Bryce Underwood $3M $3M Flat
Arch Manning $6.8M $2.5M Down $4.3M
LaNorris Sellers $3.7M $2M Down $1.7M
DJ Lagway $3.7M $2M Down $1.7M

1. Miami Hurricanes QB Darian Mensah ($6.5 million)

At present, Mensah has the highest NIL valuation in college sports, with the jump from $2.8 million to $6.5 million in his NIL valuation being the headline number on this entire list. Duke University reportedly paid $8 million to pull him out of the transfer portal in December 2024, after he threw for 2,723 yards, 22 touchdowns, and just 6 interceptions in his lone season as Tulane’s starter.

Mensah was ranked 13th by Fox Sports a year ago at less than half his current NIL number. The change in his ranking is only partially due to a change in his on-field performance. On3’s methodology shift toward deal-based valuation means confirmed contract numbers like Mensah’s now carry more weight in the rankings than they did under the old projection model, and his existing collective deal alone put him near the top once that number became the baseline instead of an estimate layered on top of it.

2. Kentucky Wildcats PF Milan Momcilovic ($6 million)

Milan Momcilovic, who replaces Carson Beck after the latter transferred out of the college ranks entirely and no longer appears in On3’s top 100, is a Kentucky forward whose valuation places him among the highest in the sport regardless of position. This is a reflection of how much basketball money has entered the NIL 100 since the shift toward revenue sharing and larger athletic department budgets for men’s basketball rosters. Momcilovic’s placement on this list says less about his star power than about how much collective spending has scaled at programs building around the athlete transfer portal.

3. Louisville Cardinals C Flory Bidunga ($6 million)

Flory Bidunga is a center in the Louisville Cardinals, stepping in for AJ Dybantsa, who is no longer listed in On3’s current top 100. Bidunga’s valuation sits just behind Momcilovic and reflects a similar broader trend: college basketball’s highest-paid players are now drawing NIL numbers that rival or exceed what was considered elite football money as recently as last year.

4. Oregon Ducks QB Dante Moore ($5 million)

Dante Moore has taken the slot that was once held by Garrett Nussmeier, who has fallen out of On3’s visible rankings. Moore is the starting quarterback for the Oregon Ducks, and his NIL valuation puts him among the top five athletes in the country regardless of sport. Oregon’s program has consistently ranked near the top of team NIL spending in recent cycles, which tracks with a starting quarterback commanding this kind of number.

 5. Ohio State Buckeyes WR Jeremiah Smith ($5 million)

Jeremiah Smith’s NIL valuation moved from $4.2 million to $5 million, which is a modest climb relative to some of the more dramatic swings on this list. Even so, Smith remains one of the most recognizable names in the sport. He was a co-cover athlete for College Football 26, and his endorsement portfolio includes brans like American Eagle, Lululemon, Red Bull, and even Nintendo; Smith also signed a car-dealership deal that reportedly came with a Mercedes. His NIL valuation has stayed relatively stable because his brand power comes from his performance and media presence rather than a single collective negotiation, which makes him less prone to the kind of transfer-driven swings that moved several other names on this list.

6. Kansas Jayhawks SF Tyran Stokes ($5 million)

Tyran Stokes replaces Cade Klubnik, who is no longer among On3’s top 100 athletes. He’s a freshman forward for the Kansas Jayhawks, and his placement this high on the list this early in his career reflects how aggressively programs are now paying for basketball talent before that talent has played even a minute of college sports, mirroring what happened with high-profile football recruits like Bryce Underwood a year earlier.

7. Florida Gators PF Thomas Haugh ($5 million)

Thomas Haugh fills the slot vacated by Drew Allar, who has dropped out of the current rankings. A forward in the Florida Gators, Haugh’s NIL valuation is another data point in the basketball surge that now dominates the top of On3’s board.

8. St. John’s Red Storm SF Tounde Yessoufou ($5 million)

Tounde Yessoufou replaces John Mateer, who no longer listed in On3’s current top 100. Yessoufou plays for St. John’s Red Storms, one of several programs that now show up repeatedly near the top of the NIL 100. This is a noteworthy pattern considering how few programs used to dominate this list even a year ago.

9. Gonzaga University Bulldogs C Massamba Diop ($5 million)

Massamba Diop takes over for Ryan Williams, who has fallen out of the rankings. A center with the Gonzaga University Bulldogs, Diop rounds out a stretch of the list, ranks 2 through 9, that is almost entirely basketball players, a genuine shift from where this list sat under the old Fox Sports framing.

10. Ole Miss Rebels QB Trinidad Chambliss ($5 million)

Trinidad Chambliss replaces Caleb Downs, who no longer appears in the current top 100. He’s Ole Miss Rebels’ starting quarterback, and his NIL valuation puts him back into football territory after a long run of basketball names. This a good reminder that both sports are pulling from the same pool of collective and revenue-sharing money now.

11. LSU Tigers QB Sam Leavitt ($4.5 million)

Sam Leavitt’s valuation climbed from $3.1 million to $4.5 million, one of the larger upward moves among the football players who kept their spots on this list. Leavitt previously drew endorsement deals with Jones Ford Verde Valley and Cold Beers & Cheeseburgers, and an LSU collective deal shut down transfer speculation earlier in his career. The jump likely reflects continued strong play plus the same deal-based valuation shift that pushed Mensah and Hoover higher on this list.

12. Washington Huskies QB Demond Williams Jr. ($4 million)

Demond Williams replaces CJ Bailey, who has dropped out of the current On3 top 100. He’s the starting quarterback with the Washington Huskies, and his NIL valuation places him solidly in the second tier of football earners on this list.

13. LSU Tigers OT Jordan Seaton ($4 million)

Jordan Seaton is an offensive tackle with LSU Tigers. He is a rare offensive lineman to crack this high on an NIL valuation list, which historically skews almost entirely toward quarterbacks, skill players, as well as basketball guards and forwards.

14. Indiana Hoosiers QB Josh Hoover ($4 million)

Josh Hoover’s valuation jumped from $2.4 million to $4 million after transferring to the Indiana Hoosiers. He previously had no reported brand deals beyond his collective agreement at TCU, even though Tennessee reportedly offered him roughly $1 million more than what he was receiving there. His current number suggests the market caught up to what other programs were already willing to pay him a year ago.

15. Texas A&M Aggies SG PJ Haggerty ($4 million)

PJ Haggerty is a guard with the Texas A&M Aggies. He’s another basketball name whose valuation now sits ahead of several established college football starters.

16. Kentucky Wildcats PG Zoom Diallo ($4 million)

Zoom Diallo is a point guard with the Kentucky Wildcats. His presence here continues the pattern of Kentucky basketball drawing some of the largest collective spending of any program in the country this cycle.

17. Indiana Hoosiers C Aiden Sherrell ($4 million)

Aiden Sherrell plays center with the Indiana Hoosiers, closing out another stretch of the list dominated by basketball.

18. Miami Hurricanes SF Somto Cyril ($4 million)

Somto Cyril steps into the final replacement slot, taking over for Jackson Arnold, who is no longer in On3’s top 100. Cyril plays for the Miami Hurricanes, a program that leads all schools in total athletes represented in the current NIL 100.

19. Duke Blue Devils SG John Blackwell ($4 million)

John Blackwell fills the slot once held by Boogie Fland, who is no longer listed. A guard with the Duke Blue Devils, Blackwell is another example of blue-blood basketball programs now competing directly with football powers for NIL dollars.

20. Tennessee Volunteers SG Juke Harris ($4 million)

Juke Harris plays for the Tennessee Volunteers as a guard, and is another example of a basketball player among high-NIL-earning student athletes.

21. Texas Tech Red Raiders F JT Toppin ($4 million)

JT Toppin’s NIL valuation climbed from $2.8 million to $4 million, matching the number he was reportedly expecting when he decided to return to school instead of entering the 2025 NBA Draft. He won Big 12 Player of the Year and averaged 18.2 points per game, and his market value has simply caught up to what insiders already expected him to command.

22. Texas Longhorns F David Punch ($4 million)

David Punch fills the slot left open after the outgoing entry dropped out of the current top 100. He’s a forward with the Texas Longhorns, joining the program this offseason from TCU, where he made 27 starts as a freshman before breaking out as a sophomore, averaging 14.1 points and 6.8 rebounds per game and earning honorable mention All-Big 12 honors. His valuation adds another name to Texas’ growing footprint in the current NIL 100, alongside Arch Manning.

23. Indiana Hoosiers C Samet Yigitoglu ($4 million)

Samet Yigitoglu is a 7-foot-2 center who transferred to Indiana from SMU this offseason, joining fellow transfer Aiden Sherrell in a rebuilt Hoosiers frontcourt. Over two seasons at SMU, he started all 66 games he appeared in, averaging 10.4 points, 7.1 rebounds, and 1.3 blocks per game while shooting better than 58 percent from the floor. His valuation makes Indiana one of the more heavily represented programs on this list, with two centers alone accounting for a combined $8 million in NIL value.

24. Marquetta Golden Eagles F Sananda Fru ($4 million)

Sananda Fru is a 6-foot-11 center who transferred to Marquette from Louisville this offseason, marking the program’s first Division I transfer addition since 2021. In his lone season at Louisville, he averaged 9.0 points and 6.1 rebounds per game while shooting 75.3 percent from the field, ranking among the ACC’s most efficient scorers. Marquette’s decision to finally enter the transfer portal for a piece this size shows how far programs are now willing to reach, and pay, to fill a specific roster need.

25. Texas Longhorns G Isaiah Johnson ($3.5 million)

Isaiah Johnson, another basketball athlete, plays point guard for the Texas Longhorns, and closes out the list of top 25 NIL-earning student athletes.

Top Schools in NIL 100

Miami and Tennessee are currently leading all programs with seven student athletes each in On3’s NIL 100, followed by Kentucky and Oregon with five each, and Texas also with five student athletes.

School Athletes in NIL 100 Top Athlete Est. Program NIL/Revenue-Share Spending
Miami (FL) 7 Darian Mensah ($6.5M) Not publicly disclosed by On3
Tennessee 7 Multiple basketball/football athletes at $2-4M range Not publicly disclosed by On3
Kentucky 5 Milan Momcilovic ($6M) Not publicly disclosed by On3
Oregon 5 Dante Moore ($5M) Not publicly disclosed by On3
Texas 5 Arch Manning ($2.5M) Not publicly disclosed by On3

On3’s school totals are drawn straight from its NIL 100 rankings page, which counts athletes but does not publish individual school-level spending totals. Any dollar figure claiming a specific school’s total NIL or revenue-sharing budget should be treated with caution unless it traces back to a named report, since collectives and athletic departments rarely disclose full budgets publicly.

The Split: Football vs. Basketball

The split in the list towards the top has shifted hard towards basketball since Fox Sports published its list in June 2025; at the time, only 5 of the top 25 NIL-compensated student athletes played basketball.

By contract, in the current On3 top 100, basketball players outnumber football players by a significant number. Part of that comes from timing because college basketball’s transfer portal and recruiting cycles land differently on the calendar than football’s. This means that a September snapshot naturally catches basketball programs mid-negotiation in a that way football programs, which are further into their season, are not capable of doing. Part of it also reflects how aggressively basketball programs like Kentucky, Duke, and St. John’s have started spending a lot of money to build rosters entirely through the portal.

High School Athletes in the NIL 100

On3’s rankings include at least one athlete still in high school. A class-of-2027 recruit sits at rank 61 with a $2.4 million valuation, ahead of several current college starters. That number belongs to a high schooler who hasn’t played a single college snap, which says something about how far NIL, as a concept, has moved from its original purpose of letting college athletes profit from their own name and likeness. The market now prices future potential the same way it prices current actual performance, sometimes more aggressively.

A frequently changing list that needs checking often

The gap between where this list sat in June 2025 and where it sits today, i.e. September 2026, shows what happens when a market this new keeps changing its own rules for measuring itself, while transfer portals, revenue sharing, and collective spending all move at the same time. Whatever number sits at the top of this list next year probably won’t be Darian Mensah’s, and it might not even be a quarterback.