College basketball player asked for $5 million to transfer

Nov 22, 2022; Pittsburgh, Pennsylvania, USA; An official game ball goes through the net before the Pittsburgh Panthers host the Fairleigh Dickinson Knights at the Petersen Events Center. Mandatory Credit: Charles LeClaire-USA TODAY Sports

Business is apparently booming for college basketball transfers.

CBS Sports’ Gary Parrish and Matt Norlander surveyed 100 college basketball coaches and asked them 10 questions. They are posting the results over the course of three weeks, and Monday’s edition of the survey produced some spectacular responses.

According to the poll, 77 percent of Power 5 coaches say they have been asked to pay at least $1 million to land a player via the transfer portal. 10 percent of coaches said they have been asked to pay at least $2 million for a transfer.

But here’s the real doozy: one coach claimed to have been asked to pay $5 million for a transfer!

No deal for that absurd amount of money has been reported, so the reporters assume that the exorbitant price request dropped to something more reasonable.

But the whole point of the survey results is that NIL rules have led to some crazy money being made by players in what now appears to be pay-for-play, which is not what was intended.

Coaches at Power 5 schools say that it now costs several million dollars to field a team via the transfer portal. This is indeed the free market at work.

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