What’s the point of a contract, anyways?

Hey there,

As college football enters its stretch run on the field, we examine the biggest stories currently happening off the field. And it’s no surprise that it all relates to NIL and the transfer portal. It’s only been a week since the portal opened, but we’ve already got fascinating storylines that relate to dollars and cents. Don’t expect it to slow down anytime soon.

— Kyle

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THE BIG 3

What’s the point of a contract, anyways?

The Demond Williams saga has concluded, with the Washington quarterback renewing his commitment to the Huskies. 

In the five years since NIL became the law of the NCAA land, Williams’s flirtation with spurning Washington, the intense reaction and his eventual return provided one of the fullest pictures we’ve seen of a contract dispute. At the heart of the 48-hour drama was the reported $4 million 2026 contract Williams signed with Washington. The Huskies were not going down without defending themselves, spotlighting the enforcement of player contracts in the age of NIL and revenue sharing. 

Williams began the week entrenched at Washington as one of the nation’s highest-compensated QBs, armed with a deal of at least $4 million. However, shortly after reaching the agreement, he announced his intention to transfer. The timing couldn’t have been worse, as Williams shared the news during a remembrance ceremony for Washington women’s soccer player Mia Hamant, who succumbed to cancer in November. 

Washington went into defense mode, reviewing its legal options regarding a buyout if Williams did not honor the terms of the contract. The university also refused to enter his name into the transfer portal, which created questions about Williams’s eligibility. But he could have simply unenrolled from Washington and then enrolled at a new school. His status in the portal would not have prevented him from playing elsewhere. (LSU was the likely destination.) 

Last year, Wisconsin refused to put defensive back Xavier Lucas in the portal. He unenrolled and now plays for Miami. There is an ongoing lawsuit between Wisconsin and Miami related to tampering. 

Adding to the spectacle between Williams and Washington: Doug Hendrickson of Wasserman Sports represented both Williams and Washington head coach Jedd Fisch. On Thursday, Hendrickson dropped Williams. Prominent sports attorney Darren Heitner announced he was representing Williams. 

A landmark legal fight felt imminent. Washington and the Big Ten were not shying away from taking action. At stake was Williams’ $4 million, and his next school’s revenue-sharing pool would have been reduced by $4 million. But instead of a potential legal precedent, the two sides came together, and Williams will suit up for Washington in 2026. 

“The past 48 hours have underscored just how complex and challenging the current college athletics environment has become,” Washington athletic director Pat Chun said. “What has transpired has been difficult for all parties involved and is emblematic of many of the current issues in college sports. It is critical in this post-House, revenue-sharing environment that contracts with student-athletes are not only enforced but respected by everyone within the college sports ecosystem.”

Williams said in a statement he is “fully committed” to Washington, while Fisch said he and Williams “will work together to begin the process of repairing relationships and regaining the trust of the Husky community.”

Chun is correct in his assessment of the complexities. This was a positive outcome for multiple reasons: 1. Contracts should be honored. And if they aren’t, the consequences should be enforceable. 2. Blatant tampering needs to cease. 

I’m pro-NIL. Players should be paid. I don’t feel sorry for coaches that their multi-million-dollar jobs are more difficult. But I believe in rules and contracts. Without them, the entire college sports enterprise collapses.

Jackson wants HOW MUCH money from Ohio State?

In Columbus, Ohio, Ryan Day and Ohio State are also dealing with the complex realities of NIL. 

And running back Bo Jackson is making an equally ill-advised decision as Demond Williams, highlighting the poor advice college athletes are receiving from their representation. 

Jackson just completed his freshman season for the Buckeyes, rushing for nearly 1,100 yards. He ranked 24th nationally in rushing, but overall, Ohio State’s lack of explosive run plays was an anchor for the offense. The Buckeyes ranked 49th in rushes of 10-plus yards and 88th in rushes of 20-plus yards. 

According to On3’s Jeremy Birmingham, Jackson is seeking a deal that is similar to TreVeon Henderson’s rookie salary with the New England Patriots and more than what Henderson and Quinshon Judkins made in their final season at Ohio State. For reference, Henderson has a base salary of $850,000. 

It’s a nonsensical request from a dime-a-dozen running back. While Jackson proved he can be the bellcow at Ohio State, he didn’t move the needle enough to justify breaking the bank. The Buckeyes could easily pluck someone from the transfer portal who’s just as effective or possibly even better. 

College football players are struggling with greed and an eagerness to get paid. Each transfer portal cycle, we are seeing more and more miscalculations. Nico Iamaleava is the highest-profile example. Demond Williams could have been another cautionary tale, and Jackson is heading in that direction. 

Players have more leverage now than ever. And it’s not always a bad thing. But if they misplay their hands, the adverse impacts can have a trickle-down effect on all players.

Indiana’s already reloading

As long as Curt Cignetti is Indiana’s head coach, don’t expect the Hoosiers to recede from the national spotlight. And as long as billionaire Indiana graduate Mark Cuban is writing checks, the Hoosiers will have the financial backing to remain in the spotlight. 

Cuban told Front Office Sports he’s already made a donation for the 2026 transfer portal haul, and the undisclosed amount of money has Indiana happier this year than it was last year. 

As we’ve written extensively in this space already, deep-pocketed boosters and people who are motivated to see their school do well are the surest path to success under the current model. 

Nevermind what Indiana did during the 2025 season, the Hooisers currently have the No. 5-ranked transfer portal class, according to 247Sports. Among their 12 commitments are TCU quarterback Josh Hoover, Michigan State wide receiver Nick Marsh and Boston College running back Turbo Richard. 

Cignetti’s coaching ability, the program’s portal awareness and Cuban’s cash infusion are an almost unbeatable triumvirate. Having this confluence of factors take place at Indiana, of all places, makes the story even more “this is college sports in 2026.”

NIL BLITZ

♦️ Ross Dellenger of Yahoo Sports peeled back the curtain on the process of recruiting the No. 1 QB in the transfer portal.

♦️The NCAA denied Ole Miss QB Trinidad Chambliss’ waiver request for a sixth year. Now begins an appeals process — and potential litigation — that attorney Tom Mars is anticipating with glee.

♦️ Utah AD Mark Harlan discussed the school’s Under Armour deal, Otro Capital and NIL Go with the Deseret News.

♦️ Arizona State president Michael Crow talked about the university’s all-in approach to winning at football and men’s basketball.

♦️ The latest in NCAA eligibility cases: a tight end from New Zealand who went through mini-camp with the Los Angeles Charges has committed to Washington State.

♦️ Jeff Kolpack of the Fargo-Moorhead Forum spells out how North Dakota State’s NIL contracts work.

♦️ Could taxes decide which schools land the best transfers?

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BATTER UP

Today’s Poll Question:

Last Edition’s Poll Results:

Should prediction markets be involved in college sports?

• Yes - 5%

• No - 95%