College football’s money race still matters, but 2026 is giving us a reminder that spending big does not guarantee the best return. A recent report from On3’s Pete Nakos pointed to three teams making the most of what they have - and each one has opened the season by punching well above its financial weight.
Kentucky is the clearest example so far. In preseason NIL valuations, Texas A&M and LSU sat among the sport’s biggest spenders, yet Kentucky has outplayed both while working with a reported $22-25 million budget.
That’s a striking number in a league full of heavy hitters, especially considering the Wildcats are doing it under a new coach. Their 5-1 start has turned heads, and the payoff has shown up in the AP poll, where Kentucky is now No.
- If this run keeps going, the Wildcats could end up in the College Football Playoff conversation while A&M and LSU are left on the outside.
Wake Forest is carving out a similar lane in the ACC. Miami remains one of the conference’s biggest NIL players, with the high-profile addition of QB Darian Mensah standing out as a prime example.
Even so, it’s Wake Forest that currently sits second in the league and has the best chance to give the ACC a second CFP team. The reported NIL budget there is just $13 million, less than a third of what Miami was estimated to be spending.
At No. 21, Wake Forest also has a schedule that leaves room for a finish well above expectations.
The Demon Deacons have only one ranked team left, No. 24 SMU, which means 10-2 or even 11-1 is on the table.
If that happens, they’ll be doing it while spending barely $1 million in NIL funding per win.
Then there’s Oklahoma State, which may have found the shrewdest formula of the bunch. After a brutal 1-11 season in 2025, the Cowboys reset by hiring Eric Morris away from North Texas.
Morris didn’t come alone, either, bringing pieces of his old roster with him. The result has been an apparently budget-friendly roster built for immediate impact, with Oklahoma State reportedly spending just $18 million.
The payoff has been obvious. At 4-1 and ranked No. 18, the Cowboys have already logged a win over an Oregon team estimated to carry one of the sport’s highest payrolls.
The road is still there for Oklahoma State, with Houston and Texas Tech remaining on the schedule, but the Cowboys have put themselves in position for a surprising College Football Playoff push. If there’s a blueprint here, it may be this: importing Group of Five talent into a Power Conference job can be the smartest bargain in the sport.
In Other News...
Wake Forest Has A Real Chance To Keep This Surge Rolling
Wake Forest heads into its matchup with California with a chance to keep its momentum moving in the right direction, and the setup is more favorable than it might have looked back in the preseason. The Demon Deacons have earned the edge on recent performance, while Cal has spent much of the year fighting to live up to expectations that were much higher than what has shown up on the field.
The quarterback picture only adds to the uncertainty for the Bears, who may have to navigate the game without their starter after he left the previous weeks win over Virginia Tech. Wake Forest also does not have much history to lean on here, since the schools have met only once before, a 46-36 Cal win in 2024, which leaves this one feeling more like a fresh test than a familiar sequel. [Read more 🡒]
Gio Lopez Is Giving Wake Forest New Life In The ACC Race
Wake Forests win over NC State offered another reminder that Gio Lopez has become the kind of quarterback who can change the mood of the season in a hurry. After a sluggish opening stretch, he settled in and helped the Demon Deacons find their rhythm, steering a balanced offense that looked far more dangerous once the passing game started to click.
Lopezs best work came after halftime, when he began escaping the pocket and pushing the ball downfield, including a deep connection with Carlos Hernandez that helped flip the tone of the game. With California up next, Wake Forest will need that same composed version of Lopez if it wants to keep pressing its ACC Championship hopes. [Read more 🡒]
Wake Forest Gets An Early Test For Steve Forbes New-Look Roster
Wake Forest gets another look at its revamped roster in preseason play Saturday, when the Demon Deacons face South Carolina at the Rock Hill Sports & Events Center. It is only an exhibition, but it comes at a useful point for Steve Forbes, who is still sorting through a group that includes returning pieces and several new additions as the season opener draws closer.
South Carolina brings its own changes into the matchup after a recent season that showed promise but also plenty of turnover. For Wake Forest, the game carries a little extra curiosity because the two programs have not met in decades, making this a rare chance to gauge where the new-look Deacons stand against a familiar name from another part of the sport's map. [Read more 🡒]