Winning the Heisman Trophy is worth at least $800,000.
Let's do the math:
Heisman Trophy statue: $0
O.J. Simpson's 1968 Heisman and Charles White's 1979 statue each sold for more than $200,000. But, in recent years, the idea of cashing in on the actual trophy itself has been shut down. Since at least 1999, winners have to sign waivers that forbid them from ever selling it. It's not unlike the Oscars. That waiver, which has prohibited an Academy Award winner from selling their statuette since the 1950s, even allows for the Academy to buy it back for $10.
There is still plenty of money to make from winning.
Autograph deal: $200,000+
The value of your autograph automatically increases once you win the Heisman. So too do the amount of people that will want your autograph for your entire life. Minimum lifetime bump here is $200,000.
Public appearances & speeches: $200,000+
Much of this depends on how comfortable a Heisman winner is doing public appearances, but even those that don't go on to NFL careers can clear $200,000. Nebraska quarterback Eric Crouch, who won in 2001, has no problem selling recreational equipment in Omaha and has no shortage of companies asking him to do appearances.
Shoe deal: $400,000+
Nike, adidas and Under Armour have shown they are willing to pay plenty for a Heisman winner. Adidas paid Reggie Bush more than $1 million a year, Under Armour's deal with Cam Newton hovered around that, as did Johnny Manziel's endorsement with Nike. NFL potential does play a factor, but Nike paid Tim Tebow $300,000 a year to land him. Over a standard four-year deal, marketers say the Heisman adds $100,000 a year.
Tradition is the X factor
How much you can cash in also depends on the tradition and the alumni base of your college team. Marcus Mariota, for example, wouldn't get the same bump as a Heisman winner from Texas, Florida or Nebraska.
Adding it all up, the Heisman Trophy win is worth at least $800,000 over a lifetime, not counting the amount of doors that open just by joining the elite fraternity.