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☆ A VC and former student-athlete who played with Aaron Rodgers breaks down 7 big opportunities in the burgeoning NIL startup scene
▼ + stars: | 2024-04-29 | by ( Tiara White | ) www.businessinsider.com time to read: +3 min

Today, the venture capitalist is looking to invest in startups in the name, image, and likeness space transforming college sports. NIL, as it's called for short, has become big business since 2021, when student-athletes gained the right to make money from it. Some college athletes are making millions from brand and sponsorship deals, and a cottage industry has cropped up to support the rapidly changing industry. He and his partners also raised $25 million in 2021 for a venture-capital firm, Fiat Ventures, which invests in early-stage companies in the fintech space, per its website. After months of researching and talking to startups, Glover broke down the seven biggest opportunities he sees in the NIL industry:

Persons: Drew Glover, Aaron Rodgers, Cameron Jordan, Marshawn Lynch, Glover, couldn't, Jonathan Ferrey, Vint, he's, He's Organizations: University of California, Business, California, Fiat Growth, Fiat Ventures, LinkedIn Locations: Berkeley, Berkeley , California

☆ The Many Ways Men’s Sweet 16 Players Are Being Paid
▼ + stars: | 2024-03-28 | by ( David A. Fahrenthold | Billy Witz | ) www.nytimes.com time to read: +1 min

$500 signed basketball Branded vodka and coffee “Buzzer beater” quesadillaThe Many Ways Men’s Sweet 16 Players Are Being PaidThis year’s N.C.A.A. basketball tournament is being played amid a revolutionary change in college sports: The best players are now openly recruited, retained and rewarded with cash. — under pressure from the Justice Department and state legislatures — allowed players to be paid for the use of their “name, image and likeness.” The idea was to let players endorse shoes or sports drinks. (The average men’s basketball player with a collective contract at a top school is paid $63,450, according to Opendorse, a company that processes payments to players from collectives. Every team in the men’s Sweet Sixteen has been touched by this change, which has brought windfalls to players but instability to the college game.

Persons: —, ” —, windfalls Organizations: Justice Department

TV ratings signal growth in college women’s basketballWhile Clark is enticing viewers, women’s college basketball is experiencing growth that can’t only be explained by “Clarkonomics”– as basketball analyst Debbie Antonelli called it – alone. The surge in women’s college basketball is also due to more investment in media coverage of women’s sports, said Lewis. NIL empowers players — and their sportsCollege women’s basketball players are among the biggest players in the market for Name, Image and Likeness sponsorships. College women’s basketball players are among the biggest players in the market for Name, Image and Likeness sponsorships. One factor driving the speculation that Clark might stay in college was that WNBA doesn’t have the same platform as women’s college basketball.

Persons: Caitlin Clark, Clark, It’s, Steph Curry, Michael Mulvihill, Clark –, –, Jon Lewis, Lewis, Curry, LeBron James, Michael Jordan, they’re, ”, Pete Maravich’s, Davidson, “ Clarkonomics, Debbie Antonelli, Melissa Isaacson, Iowa’s Clark, LSU’s Angel Reese, let’s, ’ ” Lewis, “, Reese, Cameron Brink, Paige Bueckers, Reed Sheppard, Rob Dillingham, Cody Williams –, Dillingham, Sam Weber, That’s, hasn’t, Isaacson, Diana Taurasi’s, Candace Parker’s, eyeing Clark, — Organizations: CNN, Iowa Hawkeyes, NBA, CBS, ESPN, Fox Sports, Sports Media Watch, UConn, Tennessee, Northwestern, NCAA, College women’s, Bueckers, WNBA, ABC, Indiana Fever Locations: Iowa, Tennessee, TickPick, Opendorse

☆ An athletic scholarship and NIL deals aren't going to pay for your kid's college tuition. Here are the odds they're up against.
▼ + stars: | 2024-03-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Many of these student-athletes have full-ride athletic scholarships that cover their tuition and fees, course-related books, and room and board. What's more, landing an athletic scholarship often isn't enough to fully pay for one's college education. While 2% of high-school athletes receive an athletic scholarship, Strasman said only about 1% receive a full-ride scholarship that fully covers expenses like tuition, books, and room and board. While any scholarship money is better than none, there's no guarantee those funds will be there all four years. "I would say likely the kids that have the biggest paydays that we're hearing about are often already on scholarship," Strasman said.

Persons: —, it's, Lisa Strasman, Strasman, Strassman, there's, University of Iowa's Caitlin Clark, Clark, Bill Carter, haven't Organizations: Service, Business, Power, NCAA, University of Iowa's, Sports Business

☆ March Madness student-athlete marketing is leveling up in 2024. Here are the strategies brands are using.
▼ + stars: | 2024-03-22 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

But influencer marketers who run student-athlete campaigns are just getting started. Performance is also straightforward to measure, as NIL campaigns typically live on Instagram or TikTok, where "likes" and views can help benchmark engagement. And as more games kick off, we should see a bump in student-athlete marketing activity from previous years, marketers and NIL experts told Business Insider. The company, which worked with NIL firm Opendorse on its first foray into student-athlete marketing, said it also plans to offer career planning and mentorship to players. Student-athlete marketing is more flexible than traditional advertising.

Persons: —, Goldman Sachs, Kim DeCarolis, she'd, Sam Weber, We've, University of Iowa's Caitlin Clark, Staley Gibson, Epsilon's hashtag, Saint Peter's, Doug Edert, MOGL's Syal, OpenSponsorship's Gibson, Syal, They're Organizations: CBS Sports, Business, Altius Sports Partners, NCAA, University of Iowa's, Epsilon, Buffalo Wild Wings, MOGL

☆ Caitlin Clark-onomics and the new era of profitability in college sports
▼ + stars: | 2024-02-16 | by ( Clare Duffy | Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Caitlin Clark made history Thursday as women’s college basketball’s all-time leading scorer. The total market for commercial NIL deals for college athletes is expected to reach an estimated $200 million in 2024, according to Opendorse, an online platform that helps connect athletes with NIL deals. The growing public profiles of college athletes has also meant additional funds for their schools and athletics programs. TickPick estimates the game will be the most expensive in women’s college basketball history. This past Sunday, Nebraska’s victory over Iowa in Lincoln attracted 1.7 million viewers — the most-watched women’s college basketball game ever on Fox Sports.

Persons: Caitlin Clark, Clark, ”, Patrick Rishe, St . Louis, “, Caitlin Clark’s, ” Rishe, ” Sam Weber, Angel Reese, Flau’jae Johnson, On3, Spotrac, Weber, Tiger Woods, LeBron James, doesn’t, ” Weber, maxing, you’ve Organizations: New, New York CNN, Gatorade, Nike, State Farm, WNBA, “, Washington University, Farm, CNN, LSU, NBA, Iowa Hawkeyes women’s, Iowa, Michigan Wolverines, Ohio State, Fox Sports, Women Locations: New York, Iowa, St ., Iowa City, StubHub, Lincoln

☆ How NIL deals and brand sponsorships are helping college athletes make money
▼ + stars: | 2023-09-19 | by ( Dan Whateley | Margaret Fleming | ) www.businessinsider.com time to read: +11 min

College athletes make money by posting branded content on social media and attending events with fans. Read more about the flow of NIL money in college sportsThe remaining 20% comes from brand deals, per Opendorse. Men's basketball players make the most from brand deals, the company has found. Read more about how the company boosted social-media engagement by hiring college athletes from niche sports like golf and cheerleadingSome college athletes have become social media stars, especially female students. Reese is one of the most followed college athletes and has signed NIL deals with companies like Amazon, Airbnb, and Playstation.

Persons: influencers, Read, Phoenix Sproles, It's, Kristi Dosh, they're, USC's Bronny James, LSU's Olivia Dunne, Angel Reese, Paige Bueckers, Caitlin Clark, Flau'jae Johnson, Chase Griffin, outperforming, Bryce Adams, Opendorse, Braly Keller, Doug Edert, LSU's Reese, Reese, Matthew Hinton, Blake Lawrence, Colin Salao Organizations: Phoenix, BusinessofCollegeSports.com, University of Minnesota, Dinkytown, Power Five, UCLA, JPMorgan Chase, Chase Griffin Student, Buffalo Wild Wings, St, Peter's University, Amazon, PlayStation, AP, Nike, Adidas, Companies Locations: Ohio

☆ Inside 2 major groups that run NIL deals for Big Ten student-athletes as 'collectives' gain enormous power and influence in college sports
▼ + stars: | 2023-09-14 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +9 min

During the first year of NIL, collectives were viewed as "hush-hush" by many in the industry, Opendorse marketplace's Braly Keller previously told Insider. Brandon McCladdie/Happy Valley UnitedHow collectives work with college athletesThe main goal of collectives is to create NIL opportunities for college athletes. About a quarter of Dinkytown Athletes' NIL deals have been business partnerships between Minnesota athletes and companies like Dove, Northwestern Mutual, and PNC Bank. Happy Valley United's NIL work also involves engaging with the local community, including the collective's partner charities, said McCladdie. Happy Valley United is building its brand through media attention and community-based "grassroots" efforts, McCladdie said.

Persons: marketplace's Braly Keller, Keller, there's, it's, University of Minnesota —, Derek Burns, Burns, Brandon McCladdie, McCladdie Organizations: Big Ten, Pennsylvania State University, Dinkytown, University of Minnesota, State College ,, Penn, Golden Gophers, Happy, Dinkytown Athletes, Penn State, Blueprint Sports Foundation, Northwestern Mutual, PNC Bank, College, Gopher, Gopher Sports, State College Locations: State College , Pennsylvania, Minnesota, Minneapolis

☆ The most impactful NIL companies helping student-athletes, colleges, and others navigate a fast-changing industry
▼ + stars: | 2023-08-31 | by ( Margaret Fleming | Dan Whateley | ) www.businessinsider.com time to read: +3 min

The student-athlete name, image, and likeness, or NIL, industry has become a big business. Here are 20 firms helping athletes navigate NIL work, from dealmaking to education to compliance. College sports have dramatically transformed in the last two years since the introduction of name, image, and likeness, or NIL, monetization for student-athletes. Some of these groups pay student-athletes for NIL work in a manner more akin to a salary or retainer than a one-off marketing campaign. Insider is compiling our second list of leading NIL companies that work across the student-athlete NIL space.

Persons: Bill Jula Organizations: College, influencer, University of Minnesota's, OneTeam Partners Locations: dealmaking

☆ How a college football quarterback with 36,000 Instagram followers scored more than 30 brand deals and made himself the go-to voice for NIL
▼ + stars: | 2023-07-31 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +15 min

Chase Griffin has more than 30 brand deals, and his recent ones are mostly multi-year partnerships. Chase Griffin. 1st College Athlete Brand Ambassador for the largest/most powerful bank in the world. JP MOrgan Chase 1st College Athlete Brand Ambassador. "NIL & Athlete Brands: A NewEra", November 22, 2022.

Persons: Chase Griffin, Griffin, JPMorgan Chase, he'll, influencers, Chase Griffin Griffin, Griffin doesn't, He's, that's, I've, Page, JP Morgan Chase, Lucchese Bootmaker, Frances https, JP MOrgan, Chase Griffin Chase Griffin, Chase, Lucchese, Ed, Arthur Ashe Jr Organizations: UCLA, Gatorade Football, University of California, DirecTV, Foods, JPMorgan, LA Regional Food Bank, Bloomberg, LinkedIn, Boost Mobile, LA Food Bank, DMs, Twitter, JPMorgan Chase, Range Media Partners, WGA, SAG, Brands, ucla, Creative, Banking, Chase Bank, Morgan Wealth, Bank, Champs, Urban Outfitters, United States Polo Association, Lucchese, Hollywood, Marketing, UWG, UC Investments Academy, Fund Public Service, Regional Food Bank, Empowerment, Sports, Entertainment, Beach, Sports Rights, Cannes, Creativity, Cannes Lions, College Football Hall of Fame, Association, Conference, 1st, Financial, JP MOrgan Chase, Brand, of College Athletics, Rose Bowl, Community, Royce, True Bruin, Town Hall, Sports Innovation, Chase Center, NV, Regents, Brand Innovators, College, Los Angeles Times, ESPN, Unilever, Shell, Rose Bowl Stadium, Los Angeles Regional Food Bank, Leadership Team, Council, Range, WPP, University of California Investments, UC, Santa Monica Hospital, Public Affairs, Leadership, UCLA Law, National Football Foundation, Pro Football Hall of Fame, Texas High, Gatorade Locations: Texas, Los Angeles, Opendorse, Instagram, Hollywood, CA, Cannes, Atlanta, Carlsbad, Los Angeles , CA, Pasadena, Los Angeles CA, San Francisco , CA, Los Angeles ,, Las Vegas, United

☆ Seeking nominations for top NIL startups helping student-athletes build their brands
▼ + stars: | 2023-07-27 | by ( Margaret Fleming | Dan Whateley | ) www.businessinsider.com time to read: +2 min

Insider is creating a list of the top NIL startups shaping the two-year-old industry. More than 20 student-athletes have NIL valuations upwards of $1 million, according to data from On3. These collectives were "hush-hush" even just a year ago, Braly Keller of NIL marketplace Opendorse told Insider. Now, around 80% of all NIL deals go through collectives, per Opendorse data. Now, we're looking to update our findings and highlight in a new list the most influential and innovative companies and startups helping student-athletes get NIL deals.

Persons: Braly Keller

☆ Freshman athlete earnings are surging as donor 'collectives' dominate. Here are 3 key takeaways from a report on NIL's second year.
▼ + stars: | 2023-07-11 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

Collectives are a driving force in the NIL marketplace because they offer big payouts to student-athletes, said Opendorse's NIL and business insights manager Braly Keller. "There's a lot of posts and activity and work being done on the commercial side compared to collectives," Keller told Insider. NIL deals and earnings by grade level. The report says Opendorse's NIL deals have a 99% view rate on Instagram reels, compared to the influencer industry average of 40%. The TikTok metrics are even more staggering: At a view rate of 73%, Opendorse athletes perform far outpace industry standards of 13%.

Persons: Braly Keller, Keller, Opendorse, Brandon Inniss, Dre, Bronny James, Jared McCain, he's, That's, Brand, it's Organizations: Schools, NCAA, Ohio State, The Foundation, Dodge, Nike, University of Southern, Duke University, Eagle, Baseball

☆ Freshman athletes saw a big jump in earnings in the second year of NIL, as boosters flooded college sports with cash through 'collectives'
▼ + stars: | 2023-07-07 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

Freshman athletes are earning twice as much per NIL deal than other college athletes, according to Opendorse. Collectives are a driving force in the NIL marketplace because they offer big payouts to student-athletes, said Opendorse's NIL and business insights manager Braly Keller. "There's a lot of posts and activity and work being done on the commercial side compared to collectives," Keller told Insider. The report says Opendorse's NIL deals have a 99% view rate on Instagram reels, compared to the influencer industry average of 40%. The TikTok metrics are even more staggering: At a view rate of 73%, Opendorse athletes perform far outpace industry standards of 13%.

☆ A new NIL report based on over 100,000 deals breaks down the highest-paying sports for college athletes and the industries spending the most
▼ + stars: | 2023-05-05 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Nearly two years after student-athletes gained the right to make money from their names, images, and likenesses, typically referred to as NIL, the tech platform Opendorse said it's processed over 100,000 NIL deals across the US. Snapchat and TikTok were much less common, representing just 6% and 3% of activations of NIL deals, respectively, per Opendorse's report. The average brand deal paid to athletes in the sport was $3,837, followed by $2,472 for football players and $1,693 for men's swimming and diving athletes. Women's college basketball players were the fourth highest earners on average for brand deals, with an average of $1,418 per deal. Haley and Hanna Cavinder earned nearly $2 million in NIL deals in the first year of the program, for example, per Forbes.

☆ 4 key takeaways on student-athlete NIL marketing from a new report that includes the industry's biggest earners and spenders
▼ + stars: | 2023-05-02 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Here are the biggest NIL earners and spenders, and other key takeaways from a new Opendorse report. Nearly two years after student-athletes gained the right to make money from their names, images, and likenesses, typically referred to as NIL, the tech platform Opendorse said it's processed over 100,000 NIL deals across the US. Snapchat and TikTok were much less common, representing just 6% and 3% of activations of NIL deals, respectively, per Opendorse's report. Women's college basketball players were the fourth highest earners on average for brand deals, with an average of $1,418 per deal. Haley and Hanna Cavinder earned nearly $2 million in NIL deals in the first year of the program, for example, per Forbes.

☆ NCAA star Angel Reese says playing at LSU is more lucrative than the WNBA—and she wants to splurge on a Mercedes-Benz
▼ + stars: | 2023-04-11 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

NCAA basketball champion Angel Reese isn't fast-tracking her college career, even if she had the option to go pro. "I'm in no rush to go to the league," Reese, 20, recently told the "I Am Athlete" podcast. That's more than any other college basketball player, the report says. Reese knows exactly what she wants to spend her newly gained fortune on, too: a Mercedes-Benz, she said on the podcast. "My first year [in college], I was just taking money," Reese said.

Brands will account for 70% of that spend, with most of the rest coming from so-called collectives, alumni groups that funnel money to athletes, according to Opendorse. Female athletes and meme starsGiven the wide-open field, brands’ strategies with NIL deals vary widely. Jill Cress, chief marketing and experience officer of H&R Block in a 2018 picture. Favorability ratings from both Gen Z consumers and parents of college students rose after the campaign, according to Ms. Cress. Bigger deals aheadNIL deals will likely evolve to often include intellectual property agreements with the schools in question, said Mr. Schwab.

But when she finally spoke to Omogun-Broadnax a couple days later about being the face of her sports agency centered on Black female college athletes, McLean said she felt an immediate connection. “It’s really important for Black athletes to have that kind of representation because it provides another sense of protection. The pair of 33-year-old attorneys, who served as clerks in the same circuit court in Maryland, talked for years about creating an agency that could advance the careers of Black female athletes. “Black female athletes are some of the most talented human beings on this planet,” Omogun-Broadnax said. Solace’s focus on Black female athletes gives the agency a rare niche.

☆ In the college sports pay era, female athletes are emerging as big winners
▼ + stars: | 2022-10-15 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +9 min

At a time of increased scrutiny about the pay gap between male and female athletes, the Nike deals show that female collegiate and amateur athletes are emerging as winners in the early days of the NIL era. "I think most people knew that women athletes in particular were going to see great opportunities," Rishe said. "That's why it's exciting to see, but not surprising to see a lot of female college athletes solidify various and sometimes lucrative NIL deals." Women's social media presence influences dealsClark ranks as the tenth most profitable college women's basketball player and Jones comes in twelfth, according to On3's "College Women's Basketball NIL Rankings." Female athletes already are doing their part in spreading the message about the future of women in sports and as public figures.

☆ How college athletes are getting paid from brand sponsorships as NIL marketing takes off
▼ + stars: | 2021-10-16 | by ( Dan Whateley | Colin Salao | ) www.businessinsider.com time to read: +13 min

In addition to brand deals, student-athletes have run branded training clinics and have been paid for appearances and autograph signings. Read about how much an FCS national champion who thought he would 'strike gold' with NIL deals actually earnedLike Sproles, Amherst College wide receiver Jack Betts thought he would profit significantly from the NIL deals, but quickly realized that it wouldn't be easy for a Division III athlete. However, by pitching himself to brands, Betts has been able to secure 35 NIL deals in 2022 alone. Some colleges and universities have developed policies to stop student-athletes from making brand deals that would interfere with their own lucrative sponsorship contracts. Here's Insider's list of 13 top companies helping student-athletes make money and shaping the future of NIL marketing

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