Stetson Bennett's NIL valuation sees significant jump following national championship win
Stetson Bennett has been through a lot in his career with the Georgia Bulldogs. On Monday night, Bennett took the field as Georgia’s starting quarterback, leading the Bulldogs to a national championship victory. The win meant a lot to Bennett, and it also resulted in a significant rise in his NIL valuation.
On3 compiles NIL valuations for athletes around the country using a number of tools. The overall goal is to quantify an athlete’s true value using a number of factors, including social media presence and on the field play.
Georgia’s national championship has helped Bennett’s On3 NIL valuation significantly rise, jumping from $89,000 to $360,000. That is a significant jump and places Bennett inside the top 25 of the On3 NIL 100.
Bennett made an appearance on Good Morning America on Tuesday after he led the Bulldogs to a title. The former walk-on turned national championship winning starting quarterback had a clear message in the appearance, saying that he had to bet on himself. Bennett’s decision to do so has paid off for not only him, but for everyone involved with the Georgia football program.
More on what went into NIL valuations for Bennett, others
The On3 NIL Valuation is an index that looks to set the standard market value for both high school and college-level athletes. The NIL valuation does not act as a tracker of the value of NIL deals an athlete has completed to date. It rather signifies an athlete’s value at a certain moment in time.
The NIL valuation is comprised of a number of dynamic data points that focus on two primary factors – an athlete’s social media presence and their level of athletic performance.
A base valuation is generated from the number of followers on each social media platform an athlete has (Instagram, Twitter, and TikTok). Each platform is weighted differently based on the number of marketing dollars that brands and advertisers typically spend on each.
With a baseline established through their individual social platforms, an athlete may also receive various boosts or penalties based on the following factors:
- Engagement
- Athletes are assessed on how much engagement their posts and stories generate. Athletes that consistently show high engagement rates will receive a boost while those with low engagement rates receive a minor penalty.
- Relative Social Media Strength
- In order to maintain parity, athletes are not penalized for not having strong followings across all 3 social media platforms. However, a boost is applied for athletes with strong followings and engagement across all three platforms relative to their peer group.
- College Prestige
- Each college is ranked from top to bottom, with athletes attending the top-ranked colleges receiving the highest boosts. High school athletes receive a partial boost once they commit to a college and receive 100% of the boost value once they are enrolled.
The colleges are ranked on the following:- Team Ranking per sport
- College TV Ratings
- College Revenues from sports
- Each college is ranked from top to bottom, with athletes attending the top-ranked colleges receiving the highest boosts. High school athletes receive a partial boost once they commit to a college and receive 100% of the boost value once they are enrolled.
- Individual Player Rankings
- Utilizing On3’s rankings, an athlete’s recruiting or On300 ranking will give them a boost according to their ranking. Once an athlete is in college, the On300 player impact ranking is used instead of their recruiting ranking.
- Position
- For college football only. The QB position is the highest-rated position, followed by skill positions – RB, WR, TE, CB, S, Edge. There are no boosts or penalties for the other positions in football. In basketball, there are no boosts for position.
- Gameday Performance
- Athletes who excel on a particular game day will receive minor bonuses for their performance.
The gameday boosters can be for the following:- Conference Players of the Week
- National Players of the Week
- Team Win (opposition strength is factored in)
- Outstanding performances on gameday, especially in key games with large viewership
- Athletes who excel on a particular game day will receive minor bonuses for their performance.
- Prestigious Achievements
- Athletes nominated (or those in the running at earlier stages in the season) for awards such as the Heisman Trophy will receive a boost. As the odds change throughout the season for the leading contenders, so will the boost. The maximum points awarded for this boost are applied once the winner and finalists have been announced with the winner receiving the highest boost and the other finalist sharing the remaining points based on their final position.
- Legacy
- Athletes who come from prestigious/ famous families will receive a boost. These boosts are usually applied to athletes who come from a family with national fame. An example of a legacy boost is Bronny James who is the son of Lebron James.
- Media
- Athletes who appear in major publications or are highlighted in productions and special features on major networks will receive boosts or penalties based on the positivity or negativity of each article. This is not solely based on the number of articles or productions but rather the sentiment of the articles.
- Existing NIL Deals
- As part of the valuation, deal flow is considered and athletes that are signing a large number of valuable contracts will indeed be boosted to reflect their success in the market. This is a relatively minor boost and the increase in the value of the athlete is not equal to the value of the deals they have signed. This is solely a marker to reflect an athlete’s ability to get deals signed and executed.