$10 million to transfer? How Jeremiah Smith would be worth at least that on the open market

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Jeremiah Smith is back for his third and presumably final season at Ohio State. The immensely talented wide receiver chose to remain in Columbus instead of testing the waters in the transfer portal, where he would've received one lucrative offer after another.

Speaking with Chris Low of On3, Smith revealed the astronomical payday he could've gotten if he chose to transfer.

"Over 10 million dollars, easy," Smith said. "But that's not how I operate."

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Brad Crawford

At first blush, that seems like a high number for a receiver on what would effectively be a one-year deal. In December, CBS Sports put together a position-by-position market value guide for the transfer portal. A "high-end" wide receiver typically ranges from $1 million to $2 million.

There are always exceptions to the rule, however, and Smith is one of them. 247Sports' No. 1 player in the 2024 signing class, Smith has delivered on that hype and then some. As a true freshman, he led the Big Ten in receiving yards (1,315) and touchdowns (15) en route to a national championship. Last season, he once again led the conference in receiving yards (1,243) and receptions (87). Smith will enter the 2026 campaign as a Heisman Trophy favorite, and there's reason to believe he could be the No. 1 pick in the 2027 NFL Draft.

CBS Sports' Chris Hummer explained how Smith could plausibly eclipse the $10 million mark on a one-year deal. Not only has "the math shifted" as teams take a "win-at-all-costs" approach in the portal, but Smith would command big money on actual endorsement deals, not just NIL deals that essentially amount to pay-for-play.

"On the surface, a $10 million price tag for any college football player seems absurd, but Jeremiah Smith is an almost singular example in college football as the sport's best player," Hummer said. "Several receivers pushed close to the $3 million mark. If you keep the double-it mentally with Smith the same, you quickly get to $6 million-plus. But Smith is different than most college football players because he can command actual name, image and likeness dollars.

"He's a household name and is partnered with massive brands like Adidas, Red Bull and 7-Eleven. He was on the cover of the EA Sports College Football video game, and his marketing value only goes up heading into his likely final season of college football with the NFL Draft looming a year from now. Using some napkin math, it doesn't take a lot of effort to see that the $5-6 million number doubles with actual marketing deals. There are always exceptions in sports. Smith is one of them. He's one of a handful of college athletes capable of reaching eight figures."

The other reason to believe Smith could've gotten a big payday is the fact that Miami likely would have taken special interest in the Opa Locka, Florida, product. Smith strongly considered Miami throughout the high school recruiting process, and he was nearly a flip for the Canes on signing day, so the Hurricanes would have been a possible landing spot for the star wideout.

Miami hasn't shied away from unloading the money cannon in the portal since Mario Cristobal arrived on campus. In each of the last three offseasons, the Hurricanes have paid top dollar to get high-profile quarterbacks. Would they suddenly have taken a frugal approach if Smith became available?

Luckily for the Buckeyes -- and unfortunately for the Hurricanes -- Smith is more than happy to be at Ohio State.

"No reason to go back home, not when I'm at the best place in the country," Smith said.

It's easy to see why Smith feels that way about Ohio State, even if he did take a little less than market value. The Buckeyes have churned out NFL receivers at an exceptionally high rate. Smith will have a second-year starter and 2025 Heisman Trophy finalist Julian Sayin throwing to him, and he can compete for a national championship. If everything goes as planned, he'll be set to make a lot more than $10 million at this time next year.