REPORT: Ohio State Buckeyes Spent $13 Million and Counting in NIL Money in Attempt to Field Elite Roster

The Boosters and NIL collectives of the Ohio State Buckeyes have reportedly spent $13 million in NIL money to retain and/or add elite players to their 2024 roster, according to CFB Focus.

This $13 million number is what they’ve spent at this point. They are still looking to add Alabama Crimson Tide transfer defensive back Caleb Downs. They are also looking to a couple more offensive linemen.

Miller Nash law firm partner Max Forer said in an article on Inside Higher Ed that the current state of NIL is akin to an arms race, especially when considering the legislation that has become present in the NIL world.

“When it all started, it was a slow trickle—everyone was pretty risk averse. But now more institutions and state legislatures are becoming more aggressive with their approach,” Forer said. “It’s almost akin to the facility arms race, where you want the best locker rooms or best treatment centers—now you want the best and most protective state bill.”

$13 Million is the exact number Ohio State Buckeyes head coach Ryan Day said it would cost to compete in 2022

Ohio State Buckeyes head coach Ryan Day spoke to about 100 members of the Columbus business community in 2022 regarding NIL, and he told them that it would take $13 million to keep Ohio State football at the top, per Cleveland.com

While day didn’t reach that number until this year, it is because it is part of his policy regarding the wild west nature of NIL. In the Cleveland.com article, Day compared the lawless nature of NIL to that of a speed limit.

“If the speed limits 45 miles per hour, and you drive 45 miles per hour, a lot of people are going to pass you by,” Day said. “If you go too fast, you’re going to get pulled over.”

During that time Day said top-tier college quarterbacks were worth $2 million, which was corroborated by Nebraska Cornhuskers head coach Matt Rhule.

Nebraska Football Coach Matt Rhule said a Top QB that’s in the transfer portal costs about 1-2 million dollars 😭😭😭 pic.twitter.com/8G1POZ3uji

— Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) November 29, 2023

Day also went on to say that elite offensive tackles and edge rushers were about $1 million. Day was spot on, if not a little bit under his original estimate in 2022 as he has now spent $13 million to return one of the best rosters in college football.

The Ohio State Buckeyes are returning multiple NFL-ready players with NIL money

The Ohio State Buckeyes have been big players in the transfer portal this offseason, but they have also gotten many guys to forego the NFL draft and return for another year.

Ohio State has been the landing spot for one of the top running backs in the portal in former Ole Miss running back Quinshon Judkins as well as one of the most highly-touted quarterbacks in the portal in former Kansas State quarterback Will Howard. The Buckeyes also added former Alabama center Seth Mclaughlin.

Here is Quinshon Judkins on the opening drive against Georgia this season. pic.twitter.com/LYjIoOGjJW

— Tony Gerdeman (@TonyGerdeman) January 13, 2024

Ohio State lost some key receivers in Julian Fleming and Noah Rogers, but the players they have convinced to return make up one of the best lists in the country.

Headlining the returns for the Ohio State Buckeyes are wide receiver Emeka Egbuka, defensive back Denzel Burke and running back TreVeyon Henderson. All three offensive weapons were surefire draft picks had they entered the 2024 NFL draft.

Just some Emeka Egbuka highlight to cap off the weekend
pic.twitter.com/x91uYqzMZ1

— The Victory Bell (@VictoryBellOSU) April 24, 2023

According to NFL Draft Buzz, Egbuka was projected to be a late first-round pick. Burke was projected to be a second-round pick, and Henderson a third-round pick.

Other NFL-ready players that decided to return to Ohio State include linebacker Tommy Eichenberg, guard Donovan Jackson, defensive tackle Tyleik Williams, defensive back Lathan Ransom and defensive ends Jack Sawyer and J.T. Tuimoloau.

It was a good day for Ohio State.

TreVeyon Henderson & JT Tuimoloau, both 2023 All-B1G 1st-teamers, announced they are returning in 2024. pic.twitter.com/DJofl2wi2Y

— Big Ten Football (@B1Gfootball) January 13, 2024

It is unclear how the $13 million dollars was distributed amongst the Ohio State roster. The money require to keep players that could’ve been drafted on top of top transfer portal recruits reportedly adds up to that $13 million, meaning there is likely a lot of disparity in how much certain players are getting paid.

Get More NFL and College Football Content

For more news and trends in the college football world, click here or follow me on Twitter @KusleikaAndrew.