REPORT: Ohio State University’s Buckeyes Invested Over $13 Million and Continuing in NIL Funds in Effort to Build a Top-Tier Roster

According to CFB Focus, the Ohio State Buckeyes’ boosters and NIL collectives have invested $13 million in NIL money to retain or recruit high-caliber players for their 2024 roster. This figure represents their current expenditure, and they are actively pursuing the addition of transfer defensive back Caleb Downs from the Alabama Crimson Tide, along with a couple more offensive linemen.

Max Forer, a partner at the Miller Nash law firm, likened the current state of NIL to an arms race, given the competitive landscape shaped by evolving legislation. Forer emphasized the increasing aggressiveness of institutions and state legislatures in the NIL realm, drawing parallels to the facility arms race where having top-notch amenities is crucial.

In 2022, Ohio State head coach Ryan Day addressed the Columbus business community, stating that $13 million would be necessary to keep the football program competitive. Day compared the unpredictable nature of NIL to a speed limit, cautioning against moving too slowly or too quickly.

Day estimated the value of top-tier college quarterbacks at $2 million and elite offensive tackles and edge rushers at around $1 million in 2022. This estimation aligns with the current reality, as Day has now spent $13 million to maintain one of the top rosters in college football.

The Ohio State Buckeyes have been active in the transfer portal this offseason, attracting notable players such as former Ole Miss running back Quinshon Judkins, former Kansas State quarterback Will Howard, and former Alabama center Seth Mclaughlin. Additionally, the team has successfully convinced several players to forgo the NFL draft and return for another year.

Despite losing key receivers Julian Fleming and Noah Rogers, Ohio State has successfully convinced a remarkable list of players to return, making it one of the strongest rosters in the country.

Leading the returning players for the Buckeyes are wide receiver Emeka Egbuka, defensive back Denzel Burke, and running back TreVeyon Henderson. All three were highly anticipated draft picks for the 2024 NFL draft, with Egbuka projected as a late first-round pick, Burke as a second-round pick, and Henderson as a third-round pick, according to NFL Draft Buzz.

Ohio State has also retained other NFL-ready talents, including linebacker Tommy Eichenberg, guard Donovan Jackson, defensive tackle Tyleik Williams, defensive back Lathan Ransom, and defensive ends Jack Sawyer and J.T. Tuimoloau.

The distribution of the $13 million among the Ohio State roster remains unclear. The funds required to retain players who could have been drafted, coupled with attracting top talents from the transfer portal, reportedly account for the total expenditure. This suggests that there may be significant variation in the compensation received by individual players.