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Heisman Watch: LSU's Garrett Nussmeier, NOLA native Arch Manning lead the way

On3 imageby:Shea Dixon•04/23/25•

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LSU quarterback Garrett Nussmeier and Texas quarterback Arch Manning are neck-and-neck as preseason Heisman Trophy favorites.
LSU quarterback Garrett Nussmeier and Texas quarterback Arch Manning are neck-and-neck as preseason Heisman Trophy favorites.

With shakeup in the Transfer Portal dominating headlines, two returners still lead the preseason Heisman Trophy race in LSU quarterback Garrett Nussmeier and Texas quarterback Arch Manning.

The second transfer portal window – a 10-day stretch this month – has been open more than a week, and unexpected quarterback moves have created a ripple effect through the college football world.

The moves also led to a massive shakeup of FanDuel‘s updated betting odds on the favorites to win the 2025 Heisman Trophy – though it didn’t shift the odds at the top of the board.

After Nico Iamaleava opted to leave Tennessee amid a contract dispute over NIL compensation before formally committing to UCLA on Sunday, UCLA quarterback Joey Aguilar, the former Appalachian State transfer, re-entered the portal on Sunday and formally committed to the Volunteers the next day.

Following those moves, Iamaleava’s 2025 Heisman Trophy odds, according to FanDuel, plummeted from a tie for third overall at +1,100 in January to +8000 on Tuesday, slotting well behind Aguilar, whose own odds jumped from off the board to +4,500 after his transfer to Tennessee was announced Monday.

Still, it’s Nussmeier – joined by New Orleans native and first-year Longhorns quarterback Arch Manning – as the two quarterbacks sitting atop the board.

Here are the latest odds breakdown from FanDuel as spring practices wind down around college football as the transfer portal inches closer to the finish line.

Garrett Nussmeier, QB, LSU: +800

While not exactly a shakeup at the top, Garrett Nussmeier did see a slight bump from the Vegas oddsmakers — up from +900 in January — following the latest portal frenzy. The LSU quarterback is now tied with Texas‘ Arch Manning as the odds-on favorite to win the 2025 Heisman Trophy.

Nussmeier returns for his second season as the Tigers’ QB1 after ranking second in the SEC with 4,052 yards on 64.2-percent passing and 29 touchdowns to 12 interceptions in 2024. If he can cut down on the turnovers, Nussmeier could easily secure his ticket.

Arch Manning, QB, Texas: +800

It’s not a massive jump, but Vegas oddsmakers appear to be buying into the Manning hype coming out of Austin. They’ve bumped the Longhorns’ new QB1 from +950 in January into a dead-heat with Nussmeier as the odds-on Heisman favorite in April.

Appearing in a limited capacity as Quinn Ewers‘ backup last season, Manning combined for 1,047 total yards and 13 touchdowns. That’s including four rushing scores in 2024.

Cade Klubnik, QB, Clemson: +1000

FanDuel’s Top 3 Heisman favorites remain the same as the veteran Klubnik gets a slight bump from +1100 in January. But now, Klubnik stands all alone at No. 3 following precipitous drops from both Iamaleava and Penn State‘s Drew Allar.

In his second season as Clemson’s QB1, Klubnik ranked Top 10 nationally with 3,639 yards on 63.4-percent passing and ranked second in the ACC with 36 passing touchdowns and just six interceptions in 2024.

Jeremiah Smith, WR, Ohio State: +1200

FanDuel’s Heisman odds shakeup also saw talented Buckeyes sophomore receiver Jeremiah Smith get a nice boost from +1700 in January. He enters the Summer with the fourth-best odds and coming in just ahead of Ohio State‘s likely QB1, Julian Sayin.

As a true freshman, Smith more than lived up to his Five-Star Plus+ ranking after leading the Big Ten with 1,315 receiving yards and 15 touchdowns on 76 receptions in 2024. If he manages to elevate his game in 2025, especially with a new starting QB, Smith will remain a serious Heisman finalist contender.

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