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Andrew Ivins/247Sports

The early signing period for the 2024 college football recruiting cycle opens on Wednesday, and as usual, there are plenty of storylines to follow along the way. Though they may not be as plentiful compared to National Signing Day events of years past, there are still some intriguing situations ready to play out as the next generation of college football stars make their decisions official. 

All eyes will be on the top two players in the country and where they plan to sign. There is also the storyline that seems to play out yearly -- which is how well Alabama, Georgia and Ohio State stockpile talent. Exactly 90% of the top 100 players are already committed (including 49 of 50) with the lone outlier planning to take it to the traditional National Signing Day in February. Can anyone catch Georgia for the No. 1 class? Will there be a Travis Hunter-like signing day shocker?

Let's have a look below at some of the key storylines to follow as the 2024 recruiting cycle kicks into high gear on Wednesday during National Signing Day. 

Join us on Wednesday, Dec. 20 at 10 a.m. ET for Signing Day Live on the 247Sports' YouTube Channel as our 247Sports experts cover all the ins and outs of the early signing period. From live commitments to updated class rankings and everything in between, Signing Day Live will be your one-stop shop for live coverage as the top programs in the nation sign the Class of 2024.

Storylines to follow on National Signing Day

1. Will the No. 1 player stick with his commitment?

Five-star wide receiver Jeremiah Smith, the No. 1 overall recruit in 2024, has been committed to Ohio State since Dec. 14, 2022. Yet some believe there's a chance he could pull a stunner on Wednesday and head elsewhere. Smith has remained loyal to the Buckeyes, but Florida State and Miami have tried like mad to steal his services. Will we see a dramatic signing day flip like Travis Hunter pulled off two years ago? The eyes of the country will be on Smith to see whether he will be taking his talents to Columbus, Ohio. 

2. Who will be the No. 1 team?

Georgia stands at the top of the 2024 247Sports Team Rankings heading into National Signing Day. Even if the Bulldogs lose Raiola, they have a big enough cushion to likely remain atop the rankings. A few losses coupled with Florida State flipping some prospects -- the two are involved with a number of similar recruits -- could move the Noles ahead, though. Ohio State is right there, too, sandwiched between the two Orange Bowl opponents. The Buckeyes still unlikely will have enough juice to vault to No. 1, however. Of course, you also can't count out Alabama; a few flips here and there, a few losses by the Bulldogs, and the Crimson Tide could pass the Dawgs for the second time this month in the wake of their SEC championship win.

3. What happened to National Signing Day?

There was once a time where the first Wednesday in February was as exciting in college football as New Year's Day. But when the early signing period was introduced in December 2017, it slowly started to trend away from February. Now, with spring official visits and the expansion of the NCAA transfer portal, down-the-stretch drama for the early signing period has waned as most schools have their heavy recruiting lifting done in the summer. In fact, the first day the NCAA transfer portal opens seems to be more anticipated now than the early signing period. Besides, with so many players going into the portal, the emotional investment by fans isn't quite there. Now a fear exists that today's elite commit will just be tomorrow's transfer candidate.

4. The NIL Era

While the coaching carousel dominated the recruiting conversation two years ago, last year, it was name, image and likeness. This year? Still NIL, but even louder than before. The reality is that NIL is here to stay. Whether it impacts a recruiting class is still up for debate, but most top prospects are anticipating some sort of NIL compensation. The bigger question is: Does the big NIL payday come as a recruit or as a transfer? The common theme? NIL. It's not going anywhere, and it's only going to have a bigger and bigger impact on the recruiting trail each and every year.