Getty Bryce Underwood landed a lucrative NIL deal at Michigan.
The Michigan Wolverines landed Bryce Underwood after an intense NIL negotiation helped poach the former five-star quarterback away from the LSU Tigers. Underwood landed a historic NIL deal for a freshman who had yet to play a snap of college football.
On3 projects Underwood's NIL value at $3 million (annual projection), and the Michigan quarterback is believed to have landed a lucrative multi-year deal to sign with Michigan. Underwood finds himself at No. 2 in On3's Pete Nakos rankings for highest-paid college football quarterbacks for 2025, just behind Duke Blue Devils signal-caller Darian Mensah.
It is worth noting that Arch Manning's NIL deal with the Texas Longhorns has not been made public, and the star was not included in the rankings.
"On3's No. 1 recruit in the 2025 cycle flipped from LSU to Michigan last fall and is now trending to start (Underwood has since been named the starter) for the Wolverines in 2025 as a true freshman," Nakos detailed in an August 21, 2025, story titled, "Tracking college football's highest-paid quarterbacks."
"Underwood landed one of the most lucrative NIL packages to date for a recruit and is set to earn $3 million this season as part of a four-year deal, per sources."
Here's what you need to know about Underwood's NIL deal.
The Athletic's Austin Meek reported Underwood could earn more than $10 million during his Michigan tenure, but this number could be closer to $12 million if On3's projections are accurate. This is dependent on Underwood staying at Michigan for four years.
Oracle's billionaire co-founder Larry Ellison is rumored to have been involved in Underwood's sizable deal.
"The public narrative was that a bunch of rich donors threw a last-minute Hail Mary to land Underwood," Meek wrote in a September 3, story titled, "How 18-year-old QB Bryce Underwood has already revolutionized Michigan football." "According to the Michigan NIL source, that was 'not at all what happened.'
"Beneath the headlines was a long, patient effort to bring the No. 1 player in the Class of 2025 to Michigan, driven by a belief that, deep down, he really did want to be a Wolverine."
Fans who follow college football recruiting may remember that Underwood initially committed to LSU. Michigan was playing coy behind Champions Circle, a a collective with former Michigan fullback Jared Wangler as co-founder.
"We just had to keep it incredibly quiet because we didn't want LSU to know we had a shot," a Michigan NIL source told Meek.
Underwood has attempted to emphasize that his decision to flip from LSU to Michigan had to do with more than money.
"Honestly, both are great programs, have a lot of love for the both of them, honestly," Underwood noted during a March 12, interview on "The Rich Eisen Show," per Yahoo Sports.
"So with me being a Michigan fan growing up, of course, that was one of the big factors, biggest things that dawned on me, of course, playing for the Motor City Wolverines and things like that."
Underwood's NIL deals are already mounting during his first few months at Michigan. The Wolverines quarterback's NIL deals include Celsius, Beats by Dre and Hollister. As for Underwood's NIL money, it is tied to more than just one booster like Ellison.
"The real story is more complicated than a donor writing a big check to Underwood," Meek wrote. "Champions Circle raises money that it uses to negotiate contracts with players for their NIL rights. The players agree to perform deliverables, such as autograph signings, donor events and social media posts.
"The collective, which is paying for use of the player's NIL rights, can then strike deals with other companies that want to use those rights, which is a way of recouping the initial investment."