The Athletic lists 15 Power Four roster budgets estimated to be over $35 million in 2026
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In the 18 months since last summer’s House v. NCAA settlement, which ushered in revenue sharing across college athletics, the price of maintaining a competitive roster has skyrocketed. In fact, while the House settlement allowed FBS programs to initially allocate $20.5 million to be spent on roster rev-sharing, multiple Power Four programs have far exceeded that figure, including some by more than double.
That’s especially true within the college football ranks, where there are reportedly at least five major programs that have rosters exceeding $45 million, several of which are pushing upwards of $50 million. Given the rapid rate of growth across the sport, industry experts widely expect those figures to inch closer to $60 million range in the next calendar year, according to On3‘s Pete Nakos.
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With all that in mind, The Athletic polled more than 70 sources across the college football world — including coaches, general managers, personnel directors, athletic directors, agents, and more — in an effort to nail down roster estimates across the Power Four ranks, including independent Notre Dame. And what The Athletic uncovered further sheds light on the colossal financial disparity between the haves and have-nots across college football.
With that in mind, let’s dive into The Athletic‘s list of the Top 25 Power Four college football programs with estimated roster budgets exceeding $25 million:
Ohio State Buckeyes (est. range: $49-54M)
For the second straight year, the Buckeyes are believed to have college football’s most expensive roster with an estimated budget exceeding $50 million. Of course, a portion of that involves player retention, including junior receiver Jeremiah Smith, who has an On3 NIL valuation of approximately $5 million.
And given Ohio State’s success on the field — including winning the 2024 College Football Playoff national championship — it should come as no surprise that the Buckeyes are willing to pay top dollar to maintain a championship-caliber football roster under head coach Ryan Day.
Oregon Ducks ($48-54M)
The Ducks’ placement on this list also shouldn’t be much of a surprise given who their biggest booster is — Nike CEO Phil Knight. And given that financial support, head coach Dan Lanning and Oregon managed to retain back college football’s most experienced roster entering 2026.
Of course, that includes star senior QB Dante Moore ($5 million NIL valuation), who bypassed a shot at being the No. 2 overall pick in April’s NFL Draft to run it back in Eugene. Oregon also retained senior EDGE Matayo Uiagalelei ($2 million) and had enough to sign safety Koi Perich out of the portal.
Texas Longhorns ($45-55M)
The newly No. 1-ranked Longhorns are fresh off the biggest win of the Steve Sarkisian era following last Saturday’s 24-23 comeback victory over the previously top-ranked Buckeyes, and did so with a talent-rich roster that was juiced through the NCAA Transfer Portal this past January.
That included the addition of elite transfer Cam Coleman ($3 million NIL valuation) — the No. 1 WR in the portal this offseason — and running backs Hollywood Smothers and Raleek Brown. And let’s not forget Texas still has superstar QB Arch Manning and EDGE Colin Simmons, both with a $2.5 million valuation.
LSU Tigers ($47-50M)
Given what LSU spent to bring former Ole Miss head coach Lane Kiffin to Baton Rouge, it should be no surprise the Tigers rank in the Top 5 nationally with a nearly $50 million budget. Once on campus, Kiffin lived up to his “Portal King” moniker and backed up the Brinks truck to add 40-plus transfers in January.
That included acquiring former Arizona State QB Sam Leavitt ($4.5 million valuation) as On3’s No. 1 overall transfer this offseason, and former Colorado left tackle Jordan Seaton ($4 million) and ex-Rebels EDGE Princewill Umanmielen, among the top-rated players at their positions in the transfer portal.
Texas A&M Aggies ($45-50M)
The Aggies have routinely shown a willingness to spend big bucks to hold their own in the always competitive SEC, including signing former coach Jimbo Fisher to a fully guaranteed $75 million deal nearly a decade ago. And while that didn’t work out, the tendency hasn’t abated any over the years.
Entering 2026, Texas A&M managed to retain star dual-threat QB Marcel Reed ($3 million NIL valuation) and also signed On3’s No. 3-ranked transfer portal class in 2026. That included explosive WR Isaiah Horton and experienced OT Wilkin Formby, both from Alabama, and ex-Northwestern EDGE Anto Saka.
Miami Hurricanes ($44-50M)
The Hurricanes were among college football’s most aggressive spenders this past offseason, especially when it came to landing their next starting quarterback. Former Alabama QB Ty Simpson claimed he turned down a $6.5 million offer from Miami to transfer and instead went to the NFL.
Thankfully, head coach Mario Cristobal still managed to land his next QB1 in former Duke dual-threat QB Darian Mensah, who coincidentally ranks No. 1 nationally in On3’s NIL Valuations at $6.5 million. It’s been money well spent with Mensah currently leading college football with a 91.1 completion percentage.
Notre Dame Fighting Irish ($41-48M)
The highly motivated Fighting Irish felt snubbed after falling out of the College Football Playoff mix on Selection Sunday last season and spent the offseason retaining one of college football’s top rosters. That included investing big bucks into second-year starting QB C.J. Carr ($3 million NIL valuation).
Of course, Notre Dame also returns several future first-round NFL draft picks, including star cornerback Leonard Moore and safety Tae Johnson. Marcus Freeman and the Irish also signed a Top 10-ranked portal class that included CB D.J. McKinney and WR Quincy Porter from Colorado and Ohio State, respectively.
Ole Miss Rebels ($39-45M)
Despite losing their former head coach and several key stars to LSU this offseason, the Rebels recovered quite nicely. That included retaining elite QB Trinidad Chambliss and 1,500-yard running back Kewan Lacy, who entered the 2026 season with On3 NIL valuations of $5 and $2 million, respectively.
Ole Miss was also quite active in the NCAA Transfer Portal in January, including controversially flipping linebacker Luke Ferrelli following an earlier commitment to Clemson. First-year Rebels head coach Pete Golding also acquired his QB of the future in dual-threat Deuce Knight ($1.1 million) from Auburn.
Tennessee Volunteers ($41-43M)
A year removed from making the 2024 CFP, the Vols opened up the checkbook this offseason to land the No. 3 quarterback in the 2026 recruiting cycle in Five-Star Plus+ dual-threat Faizon Brandon, who is already creating a buzz as Tennessee’s uber-talented starting QB with a hefty $1 million NIL valuation.
The Vols also spent big bucks in the transfer portal to land multiple former Penn State transfers, including linebacker Amare Campbell and defensive tackle Xavier Gilliam. Of course, Tennessee also signed ex-PSU EDGE Chaz Coleman ($2 million) only to have him leave the program in June after a falling-out.
Alabama Crimson Tide ($38-42M)
Given the program’s championship pedigree under legendary coach Nick Saban, it might be a surprise to see the Crimson Tide so far down this list. But Alabama has shown a tendency to be much more frugal under third-year head coach Kalen DeBoer with a greater focus on the prep ranks over the portal.
Nevertheless, the Tide have never been averse to paying top dollar for elite players, including on superstar sophomore quarterback Keelon Russell ($2 million NIL valuation) and former five-star receiver Ryan Coleman-Williams ($1.5 million). Alabama also landed several new starters via the portal.
Texas Tech Red Raiders ($38-42M)
USC Trojans ($37-40M)
Indiana Hoosiers ($36-40M)
Michigan Wolverines ($36-40M)
Florida Gators ($31-41M)
Other notable teams with roster budgets exceeding $25 million
South Carolina Gamecocks ($32-35M)
Auburn Tigers ($31-35M)
Nebraska Cornhuskers ($31-35M)
Georgia Bulldogs ($31-34M)
Oklahoma Sooners ($28-34M)
Clemson Tigers ($29-32M)
Penn State Nittany Lions ($29-32M)
Wisconsin Badgers ($27-31M)
Missouri Tigers ($27-30M)
UCLA Bruins ($26-30M)
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