Thriving in the NIL era, Ole Miss turns into an unlikely college football powerhouse

Keith Carter had a premium vantage point at the Sugar Bowl for arguably the biggest moment in Mississippi's college football history, standing directly behind the goalposts as Lucas Carneiro's 47-yard field goal split the uprights.

The Ole Miss athletic director scooped up the football and tucked it under both arms, hugging it tight like a fullback as he ran through the end zone in jubilation.

The 49-year-old Carter — who played basketball for the Rebels in the late 1990s — didn't play a snap in Ole Miss' 39-34 victory over Georgia in the College Football Playoff quarterfinals. But in some ways, he might be the most important person for a football program that hasn't acheived this much success since the early 1960s.

He is also the man working to keep Ole Miss on top.

“We want to go win the whole thing this year, obviously,” Carter said. “But our hope is to be right back here next year and be a program that's an every-year CFP contender with a chance to win national championships.”

Such talk would have sounded crazy less than a decade ago when Ole Miss was mostly an afterthought in the SEC, dealing with the fallout of an NCAA investigation into rules violations and a messy breakup with then-coach Hugh Freeze.

But as the No. 6 seed Rebels prepare to face No. 10 Miami in the Fiesta Bowl on Thursday with a spot in the national championship game on the line, it doesn't feel nearly as far-fetched.

Thanks to a group of behind-the-scenes people that includes Carter and Walker Jones — who leads the Ole Miss NIL collective — the Rebels have thrived in the pay-for-play era, building a fundraising behemoth that's given them resources to build a roster that includes quarterback Trinidad Chambliss, running back Kewan Lacy and a defense stacked with NFL-caliber talent.

Chambliss recently committed to return to the Rebels next season pending NCAA approval. He said Ole Miss has all of the resources it needs to compete at the highest level.

“I feel like college football's changed throughout the years,” Chambliss said. "NIL changed that. The transfer portal changed that. The college football playoff changed that. I feel like Ole Miss, being in the SEC, the best conference in the nation, you're going to get guys. You're going to get good guys and coaches want to coach there. Ole Miss has done a good job transitioning with how college football is transitioning itself.”

Jones played football for the Rebels in the 1990s before a business career that included more than a decade with Under Armour. He came back to Ole Miss in 2022 to lead The Grove Collective, which is the athletic department's fundraising arm.

Carter and Jones have known each other since their days playing Ole Miss sports and that connection was crucial.

“I always talk about the trust Keith had in me to come back in this capacity during a very confusing and complex time,” Jones said. “That probably wasn't easy. I credit our history together and the experience of being student-athletes together.”

The Rebels were quick to adapt to the NIL era under coach Lane Kiffin, who iprovided the recruiting. Carter and Jones provided the money and a juggernaut was born.

Now Kiffin is gone — headed to LSU after an awkward breakup — but the money remains. Jones has cultivated a group of roughly 7,000 donors in The Grove Collective who range from millionaries to college students. It's all impressive for a school that has a large following, but not the same kind of massive alumni base of schools like Ohio State or Texas.

“We may not have a T. Boone Pickens or a Phil Knight," Carter said, referring to the well-heeled donors for Oklahoma State and Oregon. "But when you put us all together collectively, pull the rope in the same direction and people give not only what they can, but maybe even a little above what they should, we’ve been able to be really good.”

Ole Miss' staying power has been evident over the past 12 months after last year's disappointing ending to the season. The Rebels spent a boatload of money in 2024 for a roster that included quarterback Jaxson Dart, but they went 9-3 in the regular season and didn't make the playoff.

Jones and Carter weren't deterred and the donations kept pouring into the program. One year later, they're exactly where they want to be. Even losing Kiffin hasn't stopped the momentum; Carter quickly promoted Pete Golding and the Rebels keep chugging along.

“You've seen this before in sports,” Carter said. “There's a team with all the expectations and you fall a little short. Then the very next year, you look up, and there's a team that's maybe not as heralded or doesn't have as much preseason hype. But the pieces fit perfectly, the locker room is right, all these intangible things happen and it's the best team in school history.”

It's all new territory for an Ole Miss program that hasn't been a powerhouse since the 1950s and '60s, back before integration. The Rebels claim three national championships in football, though none since 1962.

There were a few good moments in the ensuing decades: Eli Manning was the team's quarterback during a few heady years in the early 2000s, the Rebels won the Cotton Bowl in 2008 and Freeze had it rolling for a few years in the mid-2010s before NCAA troubles arose.

All those flashes of national relavance faded quickly.

Now because of Carter, Jones and a whole lot of cash, this version of Ole Miss might stick around for a while. Carter is soaking in the moment.

“It's not just for me,” Carter said. “I'm the one who gets recognized and is the one out in front, but there are so many people who deserve this. I'm so happy for our fans, the ones who have been through some ups and downs.”

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