Syracuse needs $10M to be competitive in NIL, Jim Boeheim says; is that feasible?

Hall of Famer and former longtime Syracuse basketball head coach Jim Boeheim tells The Orange Zone podcast that he thinks the 'Cuse needs an annual budget of $10 million to be competitive in NIL amid the current landscape in college athletics.

Naturally, Boeheim's comments are leading a lot of Orange fans to chime in with their own opinions on social media and in chat rooms. For me, the key question is: Can the 'Cuse even attain such a dollar amount?

It's an interesting question with layers of complexity. For one, name, image and likeness ("NIL") funds are coming from a variety of different sources these days. Beginning with the 2025-26 season, schools could start paying their players directly.

Additionally, there are third-party collectives that provide an avenue for college athletes to earn endorsement income. There are also events popping up, such as last month's Players Era Festival in Las Vegas, where teams collect NIL dollars.

Jim Boeheim weighs in on Syracuse basketball and its NIL budget.

All of this leads me back to the original question here: Can Syracuse basketball reach $10 million as an annual budget for player retention, as well as transfer portal and high school recruiting? On top of that, is $10 million enough?

I don't have the answer to either question. Candidly, NIL will evolve season to season, especially amid direct revenue-sharing, so putting a specific dollar amount in place as to what is needed for the Orange to be competitive might prove a tad futile.

What I can say with some level of confidence is that the Orange had more NIL money at its disposal for the current roster than it did a season ago. Certainly, Syracuse basketball competing in the 2025 Players Era Festival was helpful, and the program, I imagine, will want to participate in the event again next year and beyond.

The maximum amount that schools can pay their athletes in 2025-26 is $20.5 million, and Syracuse Orange athletics director John Wildhack has said that SU is sharing that cap. However, a large portion of that money is being directed to Syracuse football players. How much is going to Syracuse basketball players isn't clear.

Syracuse Athletics also has a $50 million fundraising campaign in place, called Champion ’CUSE, that focuses on attracting and retaining top-flight athletes. All that is well and good, although as I've noted in several columns over the past few months, SU's NIL strategy as it relates to third-party collectives doesn't appear well-defined of late, in sports beyond football, due in large part to Orange United closing its doors in early October.

To reiterate, I believe that Syracuse basketball's NIL budget is much better than it was last year or in other recent seasons. However, whether the 'Cuse is positioned for a $10 million budget, as Boeheim suggests the program needs, remains up in the air.