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The asking price for Tennessee quarterback Nico Iamaleava has some schools in a holding pattern, according to reports detailing the latest chapter of the NIL saga.
Iamaleava, who was in the midst of a multi-year deal worth at least $8 million with Tennessee’s NIL collective, entered the transfer portal after his unceremonious breakup with the Volunteers last week amid a contract dispute.
Multiple programs are ready to enter the Iamaleava sweepstakes if he drops his NIL demands and is open to a deal closer to $1 million, On3 reported Tuesday.
Iamaleava, 20, reportedly was set to earn $2.2 million for the 2025 season in the final year of the initial deal signed with Tennessee’s NIL collective and Spyre Sports Group. He originally put pen to paper in March 2022 as a high school junior.
It had the potential to exceed $10 million with championship wins and a Heisman Trophy.
Iamaleava sought around $4 million, which was commensurate with what other quarterbacks who transferred this year were getting, according to ESPN.
Iamaleava is represented by his father, Nic Iamaleava, at least one lawyer and Cordell Landers, a former assistant director of player personnel at Florida, On3 reported, adding all three are not certified agents.
A close family friend of Nic denied reports that Iamaleava pushed for more NIL money.
“The narrative was bulls–t,” the friend, who declined to be named, told Front Office Sports via a phone interview on Monday.
FOS added multiple sources disputed the claims.
“His representation hasn’t steered him wrong,” the family friend said. “At the end of the day, what did we do wrong to steer him and put him in a bad situation? We didn’t.”
They also reiterated a tweet from Nic, which denied a report by On3 last Thursday that said his son was in renegotiations for his contract with Tennessee’s NIL collective.
“Nico’s not asking for no money. He don’t even have those money conversations,” the unnamed family friend said.
Iamaleava skipped practice with the Vols last Friday and did not play in Tennessee’s spring game the following Saturday.
The family friend denied reports the quarterback’s absence was due to a “holdout,” or part of a negotiating tactic.
The rift between the Vols and Iamaleava culminated after Tennessee’s loss to eventual-champion Ohio State in the College Football Playoff last December, according to FOS.
The quarterback’s representatives reportedly spoke with head coach Joshua Heupel and explained what was needed for Iamaleava to stay with the program.
The family friend was adamant the conversations had nothing to do with money, while a different source told FOS that Iamaleava’s camp asked Tennessee’s collective for a raise.
“Big Nic said, ‘We want you guys to reassure us that you’re going to recruit and get the O-line right, that you’re going to go out there and you’re going to get receivers,’” the friend said, as Iamaleava had suffered multiple concussions in the 2024 season.
Tennessee’s NIL collective made multiple counteroffers to Iamaleava, according to FOS, however, his representatives became increasingly unresponsive, which left them confused about his future commitment.
Representatives for the Tennessee athletic department and the collective declined FOS’ request for comment.
Iamaleava reportedly entered Wednesday’s transfer portal with a “do not contact” tag, indicating he has an idea of where he’ll next take his talents.
Iamaleava led the No. 9 Tennessee to its first appearance in the College Football Playoff last year, where the Vols were defeated by the No. 8 Buckeyes in the first round, 42-17.
In 2024, Iamaleava started all 13 games for Tennessee and threw for 2,616 yards, 19 touchdowns and five interceptions while adding 358 rushing yards and three more scores.
