In the ever-evolving world of college basketball, the 2025-26 season is set to usher in a new level of financial craziness.
According to CBS Sports’ Matt Norlander, a group of ten programs has ascended into what he calls the sport’s “golden tier” of roster spending, with each expected to commit over $10 million to player acquisition and retention efforts. These schools are: Arkansas, BYU, Duke, Indiana, Kentucky, Louisville, Michigan, North Carolina, St. John’s, and Texas Tech.
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These ten programs are the major whales of the transfer portal, operating with the financial backing and booster support that allows them to pursue nearly any player available—regardless of cost.
Whether through NIL deals or direct roster-building investments, these schools have either already crossed the $10 million threshold or are easily capable of doing so before the transfer cycle ends. Their aggressive tactics are inflating the market, pushing prices higher across the board, and changing the nature of recruiting and retention.
A year ago, $5 million was considered a high-end budget for building a roster. Now that number is essentially the floor for elite programs. These schools are leveraging every financial resource available to them, and in doing so, they’re forcing the rest of the sport to play catch-up or get left behind.
Just a rung below the top ten is another group of programs ready to spend big if needed. This tier includes Auburn, UConn, Florida, Houston, Kansas, Kansas State, Miami, Purdue, Tennessee, Texas, UCLA, USC, Villanova, and Virginia.
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While not all of them have committed to $10 million, sources indicate to Norlander that a few could hit that mark with a simple phone call to the right booster. These schools are firmly entrenched in the upper class of college hoops and can compete financially with the best when the stakes are high.
The result of this spending spree is a transfer market that’s ballooned beyond anything college basketball has seen before. In some cases, players are even entering the portal after signing NIL contracts, hoping to shop for an even better deal elsewhere.
Related: Would Michael Jordan have set the NIL market in 1984?
Schools are beginning to insert stricter legal protections into their contracts. One coach told Norlander that his school is holding a player to an NIL agreement—even though the athlete never received the money and is already attempting to jump ship.
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The entire landscape is a mix of chaos and capitalism. With no centralized governance and a slow-moving NCAA, the market has become a free-for-all, driven by wealthy donors and the fear of falling behind.
Many within the sport hope that structure and a spending cap system—possibly regulated by consulting firms like Deloitte—can restore some balance in 2026. But there’s plenty of skepticism.
Until then, college basketball will remain a booming, unstable economy—one where players get rich, schools battle for relevance, and the richest programs continue to fuel a market that might be permanently out of control.
