Full Breakdown
Shedeur Sanders Sets NFLPA Group Licensing Record Despite Fifth-Round Draft Fall
5/30/2026, 8:07:22 PM
Record-Breaking Group Licensing Earnings
The NFL Players Association’s LM-2 filing shows that Shedeur Sanders, through his limited liability corporation SS2Legendary, received $17,712,015 in “royalties/player marketing” from May 2025 through February 2026. Thirteen separate payments comprise the total, with the largest disbursement of $9,241,318 on May 16 2025 and a second payment of $2,086,563 on January 23 2026.
Draft Slide and Contract Context
Projected as a first-round selection in the 2025 NFL Draft, Sanders fell to the 144th overall pick in the fifth round and signed a four-year contract worth $4.46 million—an average annual salary of $1.005 million. The draft slide eliminated the guaranteed contract and signing bonus typical of early-round picks.
Scale of the Earnings
Sanders’ $17.7 million eclipses the previous single-season record of $9.5 million set by Tom Brady in 2021-2022. It also exceeds the full four-year value of rookie wide receiver Matthew Golden’s $17.575 million contract. Among peers, J.J. McCarthy led the 2024-2025 season with $4 million through his LLC Newberry Raised; Travis Hunter’s TIPENTERPRISE LLC earned $12.8 million, ranking second; Patrick Mahomes’ 2PM LLC generated over $8 million; rookie Tetairoa McMillan’s NALO Enterprises took in $4.5 million; and Saquon Barkley’s SBQB received $4.3 million. NFLPA-wide group licensing revenue rose to $297 million for the 12-month period ending February 28, a 47 % increase from $202.6 million the prior year. Panini alone contributed $93 million, up from $39.6 million.
Official Reporting and Sources
The figures appear in the NFLPA’s annual report filed with the U.S. Department of Labor. The report aggregates royalties from jersey sales, trading cards, video games, and other collectibles, as well as player-marketing income from appearances and hospitality promotions. The data are submitted annually in the LM-2 filing required of the league-players union.
Critical Perspective
One source suggested the May 2025 payment likely reflects an individual trading-card guarantee negotiated before Sanders’ draft slide. Additionally, a portion of the league-wide licensing surge is tied to OneTeam Partners, a firm currently under a corruption investigation, raising questions about the sustainability of such revenue streams. OneTeam Partners is under a corruption investigation.
Conflicting Reports & Gaps
The $17.7 million total reflects cash accounting—payments actually received by February 2026—rather than all contracted amounts. The breakdown between pure royalties and marketing income is not disclosed, leaving the precise composition of Sanders’ earnings unclear. The cash-basis reporting can cause timing differences compared with accrual-based contracts.
Verbatim Quote
> “(Sanders) earned a record-shattering $17.7 million in group licensing income over the course of the season, according to the NFL Players Association annual report filed this week with the Department of Labor. The prior record was Tom Brady’s $9.5 million in the 2021-2022 season,” — Daniel Kaplan, Front Office Sports
Outlook for 2026
Entering the 2026 season, Sanders will compete with Deshaun Watson and Dillon Gabriel for the Cleveland Browns’ starting quarterback role, aiming to translate his off-field earnings into on-field leadership.
