Michigan Hoops' NIL Spendings Revealed as Similar Info for Rival Nowhere to be Found

With the Sweet 16 tipping off on Thursday night, On3's Pete Nakos published a report on what each program that remains in the NCAA Tournament spent on their rosters for the 2025-26 season.

To no surprise, Michigan was reported to be one of the biggest spenders in college basketball for the roster head coach Dusty May assembled in the offseason. Nakos' reports states the Wolverines spent at least $10 million on its 2025-26 team.

However, narratives that rival fans have floated around—some of which insinuated the Wolverines paid UAB transfer and Big Ten Player of the Year Yaxel Lendeborg $10 million alone, or that Michigan spent far and away more money on its roster than any other member of the Big Ten, have proven to be categorically false, according to this report.

Joining Michigan out of the remaining Sweet 16 in the "$10 million" club are Arkansas, Duke, Houston, St. John's and Texas. Kentucky, who is now out of the tournament, is reported to have spent $22 million on its roster this season.

While Houston, Duke and Arkansas all went big on its high school recruiting classes this season, Michigan went big in the portal with Lendeborg while St. John's retained forward Zuby Ejiofor.

Yaxel Lendeborg signs — Michigan forward Yaxel Lendeborg (23) sign autographs for fans after 95-72 win over Saint Louis at the NCAA Tournament Second Round at KeyBank Center in Buffalo on Saturday, March 21, 2026. | Junfu Han / USA TODAY NETWORK via Imagn Images

Three other Big Ten teams remaining in the Sweet 16 come in right behind the Wolverines in terms of spending, including Illinois, Iowa and Purdue, who were reported by Nakos to have spent in the $8-$10 million range on its rosters this season.

Alabama, Arizona, Tennessee and UConn are the other teams in the Sweet 16 reported to have spent in the $8-$10 million range.

The two programs getting the most "bang for their buck" includes Iowas State and Nebraska, with Iowa State having spent roughly $6.5 million and Nebraska's payroll sitting around $4.5 million, according to the On3 report.

Michigan State missing from the list

For some odd reason, Michigan State was the only program in the Sweet 16 On3 wasn't able to obtain a budget for this season. As Nakos stated in his report, MSU head coach Tom Izzo stated earlier this season that the Spartans had $3.5 million available in revenue sharing.

Michigan State head coach Tom Izzo reacts to foul call during the second half of NCAA Tournament Second Round against Louisville at KeyBank Center in Buffalo on Saturday, March 21, 2026. | Junfu Han / USA TODAY NETWORK via Imagn Images

However, sources speculated to On3 that Michigan State spent well above that mark.

May commented on narratives that fanbases created about Michigan's budget earlier in the season, jokingly saying he was ready for the IRS to open the books on programs in college basketball to reveal true numbers.

"I’m ready for the IRS to come in and open up the books and show what people spent versus what the spin zone has said they spent,” May said.

The spending in college basketball is only expected to increase next season, according to the On3 report, with the high end budgets expected to be in the $12 to $15 million range.