Three College Football Programs Whose Gaudy NIL Spending May Not be Sustainable

These College Football programs may not be spending big in the transfer portal every year from here on out | Nathan Giese/Avalanche-Journal / USA TODAY NETWORK via Imagn Images

College Football has seen NIL/rev-share spending go from hundreds of millions in 2022 and 2023, to a one billion in spending during the 2024 season, and then to nearly two billion during the 2025 season. The cat is fully out of the bag with players making money now.

For some, it will be sustainable over the long haul. Certain major state universities and a few private universities are built to last in the NIL/rev-share era. The following three might not be if there isn't an ROI coming soon.

Texas Tech Red Raiders

Cody Campbell, the most powerful booster Texas Tech University has to offer, is worth billions of dollars. Still, he won't spend his money on Red Raiders athletics forever if he's not getting a worthy return on his investment.

He just saw a nearly $5 million investment on Jacob Toppin flame out on the hardwood with a season-ending shoulder injury, and his $28-plus million football investment didn't result in a single College Football Playoff win in 2025.

While Texas Tech did rush to the forefront of the Big 12 with ease, and has little chance of loosening that grip in 2026 with an even more expensive roster, another disappointing result in the CFP would probably have Campbell and Co. wondering if going all in like this year after year out is worth it.

Virginia Tech Hokies

The Virginia Tech Hokies aggressively leveraged a $229 million surplus package for its athletics budget over the next four years from the Virginia Tech board of visitors to hire head coach James Franklin and ask him to lay the foundation for a winner in the ACC.

Notably, School president Tim Sands made it clear to fans that he needed "loyal fans and generous donors to step forward with us." If that investment doesn't come, it's hard to see the Hokies keeping up their current momentum. Franklin is a coach who raises your floor, but he also made a name for himself with the Penn State Nittany Lions for coming up short in practically every big game.

Ole Miss Rebels

Money ultimately was the reason Lane Kiffin bolted the Ole Miss Rebels for the LSU Tigers. Kiffin saw a natural ceiling in Oxford and made the competitive move to a program with a history of winning and more immediate investment. This was, of course, in the middle of a CFP run for a team that ended up one win shy of the national championship game.

For Kiffin to see the kind of writing on the wall that makes an immediate coaching jump necessary is a dire sign for the University of Mississippi's long-term prospects in the NIL/rev-share era. Pete Golding has one of the toughest jobs in the country this season: keeping donors invested during a make-or-break year for a program that might've just lost the two biggest reasons for winning on the field and recruiting trail, Lane Kiffin and Charlie Weis Jr.