This NIL model is not going to be sustainable except for maybe the 30-40 richest schools.
NFL players get paid but they are working in a business and are paid by the teams: who charge for tickets, media rights, concessions, merchandise, etc.
Getting boosters to donate $$$ over and over for NIL without any financial return on investment can’t last forever.
And getting these kids to sign autographs at your business or star in a local radio ad is certainly never going to be worth the kind of money being paid. This is pay-for-play, which is supposed to be against the rules.
Eventually, the big schools will have to split off, the players are going to unionize and will get some kind of 50/50 revenue split with the schools. That is the only way this type of money is sustainable, in my opinion.
And after that, why would the Texas Longhorns let Quinn Ewers get drafted by the Dallas Cowboys? The Longhorns will want to keep him and offer a 10-year contract and suddenly we aren’t even pretending these are student athletes anymore and college football is dead.