Jeremiah Smith’s rumored transfer portal offer threatens potential Ohio State dynasty

The Ohio State Buckeyes quieted the haters this season (even from within their own ranks) and won the College Football Playoff National Championship after conquering the inaugural 12-team CFP field. The team reportedly spent $20 million in NIL to build its championship-winning roster and it may have to spend even more to keep the band together and run it back next year.

Freshman wide receiver Jeremiah Smith was a huge component to head coach Ryan Day's offense, breaking several team records in just his first year in Columbus. Now, he's getting some early Heisman Trophy attention and that will do nothing but boost his value through the roof.

Reports have already emerged Smith could make north of $3 million in NIL money next season at Ohio State but that hasn't stopped ambitious programs from attempting to swoop in with their own sweet offers.

Could Jeremiah Smith be tempted away from Ohio State's repeat quest for bigger pay day?

According to a report by On3's Pete Nakos, several schools have made Smith offers ranging from $4.5 to $5 million for his services next season. The five-day transfer portal window for the national championship participants ends Saturday night so Day and his coaching staff may be scrambling to negotiate with key players tempted to jump ship after winning the sport's ultimate prize.

Another wide receiver, Carnell Tate, and cornerback Jermaine Mathews Jr. are another pair of star players the program is negotiating with to avoid losing them in the portal, per Nakos. Tate reportedly is asking for more than $1 million to stay in Columbus.

It's not easy to repeat in college football and the shifting landscape of NIL and pay-to-play legalization is proving that even more so to Day and Co. The well-known House v. NCAA lawsuit settlement is expected to bring about the start of revenue sharing, which would allow schools to pay athletes directly. That plan is expected to kick off in July if all goes to plan in the courts.

Smith's situation will be one to keep an eye on. It will be interesting to see if any semblance of loyalty plays into his decision or if college football has truly turned into an unrestricted feeding frenzy of free agency.