There’s just no stopping Ohio State this season, even off the field. Especially not when Jeremiah Smith continues to be his elite self. The WR has somehow even improved upon his freshman season, and the results are showing even in his bank account. That now puts him past another star—Arch Manning.

The season has unfolded differently for both Smith and Manning. The Texas QB is now in a fight for his life as he tries to maintain his newly found control over the season. Smith, on the other hand, continues building his legacy as one of OSU’s greatest players. The hype and Smith’s showcase so far have powered his NIL valuation to overtake that of Manning’s.

Jeremiah Smith is now valued at $4.2 million in NIL, the second-highest for a college athlete, according to On3. He’s left Manning far behind at $3.6 million, at No. 3. “Jeremiah Smith, money on the rise,” said FOX Sports’ Gus Johnson, after his highlight reel of a performance against Penn State. He and Manning started the season from the same point, but the Texas QB faced what everyone feared for him. While Smith has emerged as a rare non-QB Heisman candidate, Manning has become the disappointment of the season.

It’s simple: bad performance means that the bank takes a hit. Manning was expected to be at the same level as Smith. But game after game, he continued to falter, so much so that failure became the usual expectation from the QB. It was only after the Oklahoma game that Arch Manning found a spark, which he has somehow sustained since then.

Jeremiah Smith will leave OSU as one of its most seminal players ever. He’s a talent who justifies having that huge amount. Smith is constantly making big moves in NIL, as top brands keep knocking at his door. His NIL valuation of $4.2 million has remained steady throughout the season, while Manning’s has undergone a complete rollercoaster ride.

Manning records extremely sharp drop in NIL valuation through the season

Manning lost $1.1 million in NIL value over the course of 10 weeks. He entered the season with the highest figure in college athletics, at 6.8 million. But the piling losses took the cash away, and it is now nearly half of the initial figure. It shows how badly Manning is struggling. The Texas QB is no longer the untouchable enigma in college football. Carson Beck is hot on his heels, as he sits close behind at No. 4 with 3.4 million in NIL value.

A career night against Oklahoma lifted things up big time. Arch Manning’s NIL valuation shot up to $5.3 million after that commanding victory. He followed it up with his memorable winning performance against MSU. But being down with a concussion then caused his NIL to drop straight down to $4.7 million. A bye week has likely caused that figure to drop to $3.6 million, but it’s an alarming fall. And Manning is set to face an elite opponent in Week 12: Georgia.

If Texas wins this one, the troubles for the QB are practically over. His NIL will rise considerably, and he might even overtake Jeremiah Smith. But there’s absolutely no doubt about the difference in skill between the two players. Smith’s skyrocketing fame is leaving Manning in the dust, who is only now finding his pace. By the time these two wrap up their collegiate careers, the star WR will have become an even bigger figure than the QB.