Ohio State wide receiver Jeremiah Smith is at the center of college football’s transfer portal drama, with reports suggesting that he received a jaw-dropping offer exceeding $4.5 million to leave the Buckeyes and enter the portal. The news, reported by Pete Nakos of On3, highlights the increasing role of NIL (Name, Image, and Likeness) deals in retaining top talent in college football.

“Ohio State is working to retain its top talent after winning the National Championship… Jeremiah Smith has a $4.5M+ offer and Carnell Tate has a $1M+ offer to enter the Transfer Portal, Pete Nakos reports.” via On3 on X.

The Ohio State football program, fresh off its National Championship win in the first-ever 12-team College Football Playoff, has turned its focus from celebration to preservation. Head coach Ryan Day and Ohio State’s NIL collective, The Foundation, are actively working to ensure players like Smith remain in Columbus.

The On3 report also indicates that sophomore wide receiver Carnell Tate has drawn over $1 million in offers to transfer. Day acknowledged the challenges of the current NIL landscape during an appearance on The Dan Patrick Show, saying, “Everything is so gray right now. I think as coaches, we’re all looking for a little bit more guidelines on this.”

Jeremiah Smith will stay with Ohio State

Ohio State Buckeyes wide receiver Jeremiah Smith (4) makes a catch against the Notre Dame Fighting Irish during the second half the CFP National Championship college football game at Mercedes-Benz Stadium.
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Smith, widely considered a generational talent, solidified his loyalty to Ohio State on Friday. Responding to speculation on X (formerly Twitter), Smith quote-tweeted Jay Wimbrow, who wrote that Smith’s family “is too loyal” for him to leave the Buckeyes. Smith confirmed this, putting any rumors of his departure to rest.

The Buckeyes’ star freshman turned heads in 2024 with a remarkable debut season, catching 76 passes for 1,315 yards and 15 touchdowns. Smith played a pivotal role in Ohio State’s playoff success, including a 56-yard reception on 3rd-and-11 in the championship game against Notre Dame that sealed the victory. His standout performances have made him a favorite for the No. 1 pick in the 2025 NFL Draft.

Day emphasized the importance of enforcement in addressing NIL-related tampering. “People can just call someone’s agent or parents and offer them a certain amount of money… That’s just part of it,” Day said. “Until we start enforcing some of these rules, it’s only going to get worse.”

Smith’s current NIL valuation stands at $4 million, bolstered by his deal with Red Bull, making him the first college athlete to sign with the company. While schools like Ohio State are prepared to compete in the escalating NIL market, the Buckeyes’ ability to retain Smith is a significant victory amid mounting financial pressures in college athletics.

As the transfer portal saga unfolds, Smith’s commitment to Ohio State is a testament to the program’s culture and its ability to keep top talent in a rapidly evolving landscape.