And while it sort of is (money is coming from outside of the school), many programs (coaches) actually do still hold the purse strings. So it muddies the waters on who offers what. And when you talk about it publicly, almost no one (on any side of the issue) even attempts to delineate the difference between the school's role and boosters/collective/etc.
So, UNLV can technically say "we have him every dime we offered" and they will be correct. And that is how it SHOULD be.
Some other entity would be the one offering the kid NIL money. In a perfect world, the school would have zero involvement in that. It's likely more intertwined at some schools (the ones with more $) than others. I'd actually believe that UNLV had little say in the NIL stuff.
The NCAA has been neutered here. It's by their own doing, IMO, as they could have attempted to create a real NIL process but instead waited to be forced to and now basically have thrown their hands in the air.