ND makes less from their TV contract than B1G schools make from theirs.
And the B1G is now on NBC too, along with ND, so they don’t have their own contract.
ND is just very smart with how they handle their money. They own part of UA, which is more valuable to them than just a simple payment, they own their own license (why you see the Golden Dome on the back of stuff, and they have an endowment that is top 10 nationally, despite only having 8,000 students.
They also do 18 month NIL deals with recruits, instead of the traditional 1 year, which allows for more money to a recruit up front.
Freeman is a phenomenal recruiter, but now he can actually compete with SEC schools, Oregon, Miami, etc… with NIL to even the field.