QB NIL: How On300 commit Carter Smith and Michigan signal-callers stack up

Quarterback yields high market NIL value in the new age of college football, with endless opportunities for individualistic branding and increased notoriety. It spans across the Power 4 level, indeed at Michigan, and as NIL becomes prevalent nationwide, so will the value of quarterbacks.

Following the values of key figures at the quarterback position, beginning when they’re undergoing the recruiting process, is also garnering significant traction from fans, hence why the On3 NIL Valuation was introduced in the summer of 2022. According to On3 founder Shannon Terry, the valuation index is “the industry’s leading index that sets high school and college athletes’ projected annual value (PAV) by combining Roster Value and NIL.”

Four categories help determine an NIL valuation for any collegiate athlete: Performance, influence, deal date, and exposure.

These brackets will be the foundation for understanding and breaking down the NIL Valuation of On300 Ft. Myers (Fla.) Bishop Verot quarterback Carter Smith, who committed to Michigan in early November after a game-day visit for the win over Purdue. He’s one of three pledges in 2025 for the Wolverines and the highest-ranked.

Per On3, Smith is listed as the No. 112 overall prospect and No. 9 quarterback in the country. He’s also the No. 17 player in Florida.

NIL Values are updated every Wednesday, so on February 7, Smith entered with an NIL Valuation of $94K. That’s No. 182 overall across every high school football recruit nationally, which includes the 2024 class. Among quarterbacks, Smith is No. 19 overall. USC commit Julian Lewis is No. 1 for reference, with a $627K NIL Valuation.

Let’s start with the influence category and determining Smith’s social media presence. His followers are roughly around the median for high school quarterbacks. Some are outliers, like Lewis (192K followers) and LSU commit Bryce Underwood (75K followers), but Smith commands nearly 8K followers across Instagram and Twitter. Recent trends have shown that engagements and reach on Instagram benefit an increased NIL Valuation, with Smith sitting just above 4K.

Exposure is next. Once Smith submits his National Letter of Intent, he’ll soon play for the school with a fanbase routinely in the Top 10 annually for the largest number of supporters in college football. More eyes on Smith’s dual-threat prowess increases visibility and branding potential.

Performances in college have more impact on an NIL Valuation than in high school. Still, Smith has accumulated top-tier accolades following this past season, winning the Gatorade Florida Player of the Year after throwing for 2,223 yards and 29 touchdowns while also rushing for 715 yards and 19 touchdowns.

The final is deal data. A handful of states allow high school athletes to agree to NIL deals, but Florida doesn’t let natives earn monetary compensation through NIL. That means Smith will have to wait until he enters the next level to do so. If there’s a benchmark that Smith could experience while at Michigan, JJ McCarthy wasn’t without suitors.

Overall, Smith has a little over 10 months until his NLI is signed, so there’s time to see his NIL Valuation ascend to new levels. As of right now, where does Smith stack up with current Michigan quarterbacks?

As of Saturday, February 10, listed below are the NIL Valuations of the five rostered quarterbacks from last season’s national championship run, along with early enrollee Jadyn Davis, the highest-rated signee in U-M’s 2024 recruiting class, according to the On3 Industry Ranking, a weighted average that utilizes all four primary recruiting media services.

JJ McCarthy

NIL Valuation: $1.6M
College Football NIL Rank: No. 7 Overall
Total Social Media Followers: 428K (352K on Instagram)

Jadyn Davis

NIL Valuation: $406K
College Football NIL Rank: No. 152 Overall
Total Social Media Followers: 59K (41K on Instagram)

Alex Orji

NIL Valuation: $152K
College Football NIL Rank: No. 625 Overall
Total Social Media Followers: 109K (56K on Instagram)

Jack Tuttle

NIL Valuation: $90K
College Football NIL Rank: No. 1,451 Overall
Total Social Media Followers: 11.4K (7.4K on Instagram)

Davis Warren

NIL Valuation: $88K
College Football NIL Rank: No. 1,488 Overall
Total Social Media Followers: 9K (6.3K on Instagram)

Jayden Denegal

NIL Valuation: $86K
College Football NIL Rank: No. 1,521 Overall
Total Social Media Followers: 8.3K (4.3K on Instagram)