Estimated NIL Collective Funding by Power- 5 Conferences:
Based on the projected 2023-24 NIL Market, the following is our estimate of NIL Collective funding by Power 5 Conference. NIL collectives are expected to generate on average almost $10 million annually per Power 5 school. See our disclosure of Methodology as to how these estimates were arrived at:
| Power 5 Conference NIL Collectives | 2023 | 2024 | Collective Funding | Average 2023 | Average 2024 |
|
|---|---|---|---|---|---|---|
| ACC | 15 | 18 | 149,058,917 | 9,937,261 | 8,936,535 | |
| Big 12 | 14 | 16 | 114,805,506 | 8,200,393 | 7,231,404 | |
| Big Ten | 14 | 18 | 149,621,199 | 10,687,228 | 9,725,407 | |
| Pac-12 * | 12 | 2 | 77,669,370 | 6,472,447 | 3,190,207 | |
| SEC | 14 | 16 | 186,095,088 | 13,292,501 | 13,949,067 | |
| Total | 69 | 70 | $ 677,250,000 | $ 9,815,217 | $ 9,731,184 |
* Due to conference realignment beginning in 2024, the collective funding averages by conference will change significantly this coming year.
Note: The average funding per collective will decline substantially with the advent of revenue sharing beginning in the 2025-26 academic year. NIL collectives became a factor in college sports as they performed a function that schools were prohibited from doing themselves. However, with revenue sharing, schools can directly compensate athletes up to $ 20.5 million annually, and the reliance on collectives will be significantly reduced going forward. Schools are facing steep new financial obligations, and most will be looking to redirect booster contributions currently going to collectives, back to the schools to help pay for revenue sharing and increased scholarship commitments.
Projected NIL Collective Funding by School:
Based on Booster support, the following is our estimate of NIL collective funding per school. Public universities only – private schools are not reported here due to lack of data. See our disclosure of Methodology as to how these estimates were arrived at:
| Power 5 Schools Public Universities | 2023 Conf | 2024 Conf | Collective Funding * | Total Support | Ticket Sales | Contributions |
|---|---|---|---|---|---|---|
| Texas | Big 12 | SEC | $ 22,272,474 | 135,517,239 | 57,543,166 | 77,974,073 |
| Ohio State | Big Ten | Big Ten | $ 20,253,400 | 123,232,149 | 59,649,921 | 63,582,228 |
| LSU | SEC | SEC | $ 20,137,141 | 122,524,769 | 46,594,942 | 75,929,827 |
| Georgia | SEC | SEC | $ 18,326,566 | 111,508,298 | 37,192,353 | 74,315,945 |
| Texas A&M | SEC | SEC | $ 17,228,714 | 104,828,397 | 50,624,287 | 54,204,110 |
| Michigan | Big Ten | Big Ten | $ 16,357,054 | 99,524,766 | 55,266,135 | 44,258,631 |
| Alabama | SEC | SEC | $ 15,995,406 | 97,324,316 | 44,211,016 | 53,113,300 |
| Florida | SEC | SEC | $ 15,802,237 | 96,148,974 | 34,784,702 | 61,364,272 |
| Clemson | ACC | ACC | $ 15,258,374 | 92,839,831 | 31,980,356 | 60,859,475 |
| Oklahoma | Big 12 | SEC | $ 14,817,595 | 90,157,905 | 46,977,771 | 43,180,134 |
| Penn State | Big Ten | Big Ten | $ 13,793,489 | 83,926,716 | 44,678,657 | 39,248,059 |
| Indiana | Big Ten | Big Ten | $ 13,631,160 | 82,939,020 | 21,278,997 | 61,660,023 |
| Michigan State | Big Ten | Big Ten | $ 13,035,471 | 79,314,544 | 25,178,673 | 54,135,871 |
| Virginia | ACC | ACC | $ 12,780,300 | 77,761,952 | 15,114,983 | 62,646,969 |
| Tennessee | SEC | SEC | $ 11,602,164 | 70,593,563 | 35,110,289 | 35,483,274 |
| Auburn | SEC | SEC | $ 11,588,953 | 70,513,179 | 34,140,396 | 36,372,783 |
| Arkansas | SEC | SEC | $ 11,544,039 | 70,239,900 | 48,073,959 | 22,165,941 |
| Kentucky | SEC | SEC | $ 11,254,204 | 68,476,390 | 40,538,111 | 27,938,279 |
| Oregon | Pac-12 | Big Ten | $ 10,623,807 | 64,640,729 | 24,357,945 | 40,282,784 |
| Florida State | ACC | ACC | $ 10,034,191 | 61,053,203 | 18,773,797 | 42,279,406 |
| Iowa | Big Ten | Big Ten | $ 9,698,730 | 59,012,087 | 26,416,829 | 32,595,258 |
| South Carolina | SEC | SEC | $ 9,554,700 | 58,135,731 | 24,301,862 | 33,833,869 |
| Louisville | ACC | ACC | $ 9,443,439 | 57,458,760 | 27,045,669 | 30,413,091 |
| Washington | Pac-12 | Big Ten | $ 9,406,794 | 57,235,798 | 29,198,790 | 28,037,008 |
| Illinois | Big Ten | Big Ten | $ 9,311,667 | 56,656,994 | 15,693,517 | 40,963,477 |
| Wisconsin | Big Ten | Big Ten | $ 8,982,406 | 54,653,602 | 38,117,093 | 16,536,509 |
| Mississippi | SEC | SEC | $ 8,872,378 | 53,984,130 | 19,574,652 | 34,409,478 |
| North Carolina | ACC | ACC | $ 8,355,617 | 50,839,894 | 30,224,001 | 20,615,893 |
| Nebraska | Big Ten | Big Ten | $ 7,973,918 | 48,517,435 | 38,946,701 | 9,570,734 |
| Virginia Tech | ACC | ACC | $ 7,732,903 | 47,050,980 | 21,168,159 | 25,882,821 |
| Iowa State | Big 12 | Big 12 | $ 7,551,312 | 45,946,084 | 22,909,710 | 23,036,374 |
| Kansas | Big 12 | Big 12 | $ 7,427,957 | 45,195,526 | 17,933,864 | 27,261,662 |
| Utah | Pac-12 | Big 12 | $ 7,252,969 | 44,130,809 | 15,286,819 | 28,843,990 |
| Minnesota | Big Ten | Big Ten | $ 7,171,424 | 43,634,648 | 19,252,536 | 24,382,112 |
| Missouri | SEC | SEC | $ 7,146,859 | 43,485,183 | 13,929,479 | 29,555,704 |
| Kansas State | Big 12 | Big 12 | $ 7,121,436 | 43,330,498 | 15,221,310 | 28,109,188 |
| Texas Tech | Big 12 | Big 12 | $ 6,986,182 | 42,507,539 | 13,560,519 | 28,947,020 |
| Mississippi State | SEC | SEC | $ 6,467,166 | 39,349,578 | 16,737,350 | 22,612,228 |
| Arizona | Pac-12 | Big 12 | $ 6,414,683 | 39,030,243 | 19,164,426 | 19,865,817 |
| North Carolina State | ACC | ACC | $ 5,935,429 | 36,114,218 | 21,214,362 | 14,899,856 |
| UCLA | Pac-12 | Big Ten | $ 5,919,423 | 36,016,831 | 17,494,361 | 18,522,470 |
| Arizona State | Pac-12 | Big 12 | $ 5,689,877 | 34,620,152 | 14,144,182 | 20,475,970 |
| Purdue | Big Ten | Big Ten | $ 5,510,579 | 33,529,207 | 16,617,614 | 16,911,593 |
| West Virginia | Big 12 | Big 12 | $ 5,495,362 | 33,436,624 | 18,763,866 | 14,672,758 |
| Oklahoma State | Big 12 | Big 12 | $ 5,338,583 | 32,482,697 | 12,882,021 | 19,600,676 |
| Colorado | Pac-12 | Big 12 | $ 5,337,719 | 32,477,439 | 19,175,198 | 13,302,241 |
| Georgia Tech | ACC | ACC | $ 4,281,809 | 26,052,739 | 12,303,309 | 13,749,430 |
| Cincinnati | Big-12 | Big-12 | $ 3,984,845 | 24,245,856 | 9,631,998 | 14,613,858 |
| California | Pac-12 | ACC | $ 3,932,903 | 23,929,814 | 8,073,384 | 15,856,430 |
| Maryland | Big Ten | Big Ten | $ 3,735,112 | 22,726,352 | 12,735,792 | 9,990,560 |
| Rutgers | Big Ten | Big Ten | $ 3,624,816 | 22,055,252 | 13,049,333 | 9,005,919 |
| Central Florida | Big-12 | Big-12 | $ 3,308,993 | 20,133,624 | 5,782,943 | 14,350,681 |
| Washington State | Pac-12 | Pac-12 | $ 3,216,991 | 19,573,838 | 9,299,636 | 10,274,202 |
| Oregon State | Pac-12 | Pac-12 | $ 3,163,423 | 19,247,899 | 9,447,886 | 9,800,013 |
| Houston | Big-12 | Big-12 | $ 2,098,333 | 12,767,342 | 5,191,579 | 7,575,763 |
My initial impression after going through the NIL market data and subsequent calculations was that these estimates were high. But then I looked and saw that the goal of the University of Tennessee collective is $ 25 million and that they believe the goal is “absolutely attainable”. I also saw that the Ohio State football coach recently stated they need $ 13 million in NIL money just to “maintain” their football roster. Using the 66% Power 5 average of NIL money allocated to Football, this translates into just under $ 20 million in NIL dollars to all Ohio State sports – very close to the estimate contained in this table. A little more spot checking revealed credible reports of Auburn raising over $ 13 million and Ole Miss raising over $ 10 million in NIL Collective money – both figures are higher the estimates contained in this table.
Note: The average funding per collective will decline substantially with the advent of revenue sharing beginning in the 2025-26 academic year. NIL collectives became a factor in college sports as they performed a function that schools were prohibited from doing themselves. However, with revenue sharing, schools can directly compensate athletes up to $ 20.5 million annually, and the reliance on collectives will be significantly reduced going forward. Schools are facing steep new financial obligations, and most will be looking to redirect booster contributions currently going to collectives, back to the schools to help pay for revenue sharing and increased scholarship commitments.
* Important – see our disclosure of Methodology as to how these estimates were arrived at.
Statistics compiled & edited by Patrick O’Rourke, CPA Washington, DC 