Learfield disclosed $300 million in name, image, and likeness payments to college athletes across its platform in the twelve months ending June 2026, according to year-over-year financials released Monday. Women athletes captured $87 million of that total, a 123% increase from the prior period's $39 million. The men's share grew 41% to $213 million.
The platform, which manages NIL deals for athletes at more than 200 NCAA schools, processed 47,000 individual transactions in the period, up from 31,000 the year prior. Average deal value held flat at roughly $6,400, but the distribution shifted: women's basketball players now command median deals of $11,200, compared to $4,800 a year earlier. Football remains the volume leader at $118 million, but women's basketball grew faster in absolute dollars, adding $22 million year-over-year versus football's $34 million gain.
The growth reflects two structural changes. First, brands discovered that women athletes deliver engagement rates 2.1x higher than men in the 18-34 demographic, per Learfield's internal sponsor data. A regional auto dealer in the Big Ten footprint told the company that a $15,000 campaign with a women's volleyball player generated $340,000 in tracked showroom traffic, compared to $180,000 from a comparable men's basketball spend. Second, the company signed 63 new corporate partners in the period, including 19 that exclusively sponsor women athletes. Those partners skew toward wellness, financial services, and apparel—categories that historically underspent in college sports.
The financials arrive as schools prepare for the House settlement's July 2025 implementation, which allows universities to directly pay athletes up to $20.5 million annually via a revenue-sharing pool. Athletic directors at three Power Four programs said the settlement will not replace third-party NIL but will clarify which deals are permissible. Learfield's platform becomes the compliance layer: schools need auditable records showing athlete payments came from legitimate sponsorships, not booster slush funds disguised as endorsements. The company is already piloting a compliance module with 12 early-adopter schools, charging a $75,000 annual subscription plus 4% of transaction value.
Brand executives are watching deal velocity more than total dollars. A Fortune 500 CMO allocating $8 million to college sports this fiscal year said her team now evaluates athlete partnerships on a 90-day cycle instead of annual campaigns, because roster turnover and transfer-portal timing make long commitments risky. Learfield responded by launching a $50 million advance-payment facility in partnership with a private credit fund, allowing athletes to receive upfront cash against future deal flow. The facility closed 140 transactions in its first 60 days, with an average advance of $28,000 at an 11.5% annual rate.
The data also shows geographic concentration: $142 million of the total flowed to athletes in five states—Texas, California, Florida, Ohio, and Georgia. That clustering matters for tax planning. Athletes in California face a top marginal rate of 13.3% on NIL income, while Florida and Texas assess zero state tax. A quarterback at a Florida school clears $86,700 on a $100,000 deal after federal obligations; the same deal in California nets $71,200. Advisors are counseling athletes to structure deals as endorsements (ordinary income) versus licensing (potentially capital gains), though IRS guidance remains murky. Learfield said it will offer integrated tax-preparation services starting in the 2027 tax year, bundled into its athlete dashboard.
Women's basketball's momentum extends beyond the Caitlin Clark halo. Learfield's top 50 women earners now include 11 volleyball players, 8 gymnasts, and 4 track athletes. The highest-paid individual, a basketball guard at a Southeastern Conference school, earned $420,000 across 22 deals, surpassing all but 9 football players on the platform. Her agent, who represents 14 women athletes, said sponsor interest tripled after the NCAA tournament, with inbound requests running 40% ahead of his capacity to negotiate.
The company does not break out profitability, but its parent, Learfield IMG College, disclosed that NIL services contributed $34 million in revenue on the $300 million gross payment volume—an 11.3% take rate split between platform fees and sponsor commissions. Private-equity owner Horizon Capital has discussed a minority stake sale to a strategic buyer in the athlete-marketing space, according to two people familiar with the process. No formal auction has launched.
Watch for Learfield's compliance module adoption across the Big Ten and SEC by September, which would make it the de facto standard before the House settlement activates. Also coming: a brand-safety scoring system that flags athletes with social-media risk, set to launch in Q4 after testing with 6 early partners. The women's volleyball season tips in late August; if growth there tracks basketball's trajectory, apparel brands will accelerate signings before the spring transfer window opens in April.
The takeaway
Learfield's **$300M** NIL volume and **123%** women's growth show structural shift in athlete compensation—brands now chase engagement over legacy prestige.
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