As the Sweet 16 gets underway Thursday night, Pete Nakos of On3 released a story breaking down how much each of the teams still competing in the NCAA Tournament spent on their rosters for the 2025–2026 campaign.
Michigan spent more money on college basketball during the offseason because of the roster that head coach Dusty May put together. According to Nakos’ reports, the Wolverines spent at least $10 million on its 2025–26 squad.
According to this report, however, narratives that rival fans have floated around—some of which suggested that the Wolverines paid UAB transfer and Big Ten Player of the Year Yaxel Lendeborg $10 million alone, or that Michigan spent far and away more money on its roster than any other member of the Big Ten—have been demonstrated to be utterly untrue.
Arkansas, Duke, Houston, St. John’s, and Texas join Michigan in the $10 million club out of the remaining Sweet 16. Kentucky, who has been eliminated from the competition, is said to have spent $22 million on its team this year.
With Lendeborg in the portal and Zuby Ejiofor staying at forward for St. John’s, Michigan made a big splash in the portal this season, while Houston, Duke, and Arkansas all spent a lot of money on their high school recruiting programs.
The Wolverines are followed in expenditure by three additional Big Ten teams that are still in the Sweet Sixteen, including Illinois, Iowa, and Purdue, which Nakos said spent between $8 and $10 million on their rosters this year.
According to reports, the other teams in the Sweet 16 that spent in the $8–$10 million range are Alabama, Arizona, Tennessee, and UConn.
According to the On3 report, Iowa State and Nebraska are the two schools that are making the most of their investments. Iowa State has spent around $6. 5 million, while Nebraska’s payroll is about $4. 5 million.
There are no Michigan State entries on the list.
For some inexplicable reason, Michigan State was the only team in the Sweet 16. This season, On3 was unable to secure funding. MSU head coach Tom Izzo had stated earlier this season that the Spartans had $3. 5 million in revenue sharing available, as stated in Nakos’ report.
But, according to On3’s sources, Michigan State spent far more than that amount.
In jest, May stated that he was prepared for the IRS to expose the real figures on college basketball programs, alluding to stories that fan bases had previously spread about Michigan’s budget.
May said, “I’m prepared for the IRS to come in and open the books and show what people spent as opposed to what the spin zone has said they spent. “
The On3 study predicts that college basketball spending will continue to rise in the upcoming season, with the top budgets anticipated to range from $12 to $15 million.
