NCAAF transfer portal: Insider notes on Ohio State's QB dilemma, 2024 NFL Draft depth, $250,000 NIL deals and more

The college football transfer portal, which can justifiably be referred to as college football free agency, opened up this week with a myriad of surprises.

Players who seemed ready to enter the NFL draft chose the portal instead. A multitude of draftable quarterbacks signaled their return for another year on the college field and entered the portal, destination unknown. All of this has wreaked havoc in the scouting community and amongst NFL agents.

Twelve months ago, NFL scouts were surprised by the number of players, specifically seniors, who chose to return for another season on the college field rather than opt for the NFL draft.

The extra season of eligibility came courtesy of the NCAA, which granted all athletes another year on the playing field due to COVID-19 in 2020. As a result, the 2023 NFL Draft was not a deep one, with so many players returning to college.

NCAA transfer portal: A bane for NFL scouts and agents

Scouts were hopeful last year’s lack of depth would be made up in the 2024 NFL Draft, when those super-seniors who returned to school last season would join a regular batch of seniors. Yet in the early going, it seems many seniors will be going the super-senior route themselves.

2023 NFL Draft - Rounds 4-7

This has caused mayhem in the scouting and agent communities. Scouting reports on seniors expected to enter the draft are on hold, and a redo will be necessary for those in the transfer portal intending on playing on the college field next season.

All-Star games such as the Senior Bowl and Shrine Bowl will be impacted again, as draftable players who had received invitations or were about to receive invitations are now in the portal.

NFL agents who have been recruiting college prospects since last summer are being told they’ll have to wait even longer and may lose out on players altogether. As one agent told me,

“I used to compete against other agents to sign players. Now I’m competing against other agents as well as the schools.”

The portal is also hurting many college programs.

Ohio State's QB dilemma

Huge voids were created for some schools when the clock struck midnight and the portal opened. Ohio State lost starting quarterback Kyle McCord and receiver Julian Fleming when both announced they had entered the transfer portal.

Ohio St Michigan Football

The Buckeyes, who tried to lure North Carolina quarterback Drake Maye to Columbus earlier this year with an NIL deal worth a reported $5 million, are once again shopping to sign a big-name quarterback with a lucrative deal.

Big-money NIL deals turning too lucrative to ignore

The crux of the issue is big-money NIL deals handed to players by schools in an attempt to lure them back to college for another season or transfer to other schools.

College programs have been actively recruiting players through the transfer portal, and in some cases, NIL deals have been discussed before players enter the portal, a violation of NCAA rules.

I’m told some schools have offered players money just to come and visit in the hopes of eventually signing an NIL deal—another violation of NCAA rules.

And the schools are paying big money.

Players who would normally project as late-round picks are receiving NIL deals in the range of $250,000 to $300,000. Middle-round prospects are inking deals that will net them $500,000 for the upcoming season.

NIL and transfers now frequent beyond the Power Five

I know of a receiver from Conference USA who was no better than a seventh-round pick and a likely practice-squad prospect who signed an NIL deal with a Power Five college program that lost almost all their receivers to the transfer portal. The transfer came with a $250,000 NIL package.

Scouts I’ve spoken with believe several middle-round prospects presently in the portal are just testing the NIL market. They firmly believe that if these players are unable to secure big-ticket NIL packages, they will withdraw from the portal and enter the draft.

Several have described what’s gone on the past few days as the “wild-west” and don’t believe it’s a sustainable model. While there will be programs that benefit immediately, many wonder if college boosters will continue to throw around big money to bring in players if their teams don’t win from the get-go.

Most believe this will eventually reach a consistent level, yet until that happens, we can expect major surprises in the coming days.