usatsi_10328569-1
The power of the dollar means more than ever for college football programs in the NIL era. Boosters have been replaced by full-on NIL collectives affording financial opportunities for student-athletes across college sports. Funding can come from individual donors in the case of the Colorado Buffaloes’ newly launched 5430 Collective to multi-million dollar jackpots from Fortune 500 companies, like what just happened between the Memphis Tigers its hometown multinational conglomerate holding company FedEx.
“The agreement calls for FedEx to spend $5 million annually across five years. Dollars have been appropriated for football, men’s and women’s basketball and other women’s athletic programs, however, how NIL dollars are dispersed is unclear,” On3’s Pete Nakos reported on Friday.
Nakos reports that the $25 million deal comes with a 50% fundraising match clause opening the door for an additional $12.5 million in donations over the five-year span. The involvement of a company ranking No. 41 on the Fortune 500 list sets a new standard for the type of donors athletic departments might try to attract going forward.
News Related-
Russian court extends detention of Wall Street Journal reporter Gershkovich until end of January
-
Russian court extends detention of Wall Street Journal reporter Evan Gershkovich, arrested on espionage charges
-
Israel's economy recovered from previous wars with Hamas, but this one might go longer, hit harder
-
Stock market today: Asian shares mixed ahead of US consumer confidence and price data
-
EXCLUSIVE: ‘Sister Wives' star Christine Brown says her kids' happy marriages inspired her leave Kody Brown
-
NBA fans roast Clippers for losing to Nuggets without Jokic, Murray, Gordon
-
Panthers-Senators brawl ends in 10-minute penalty for all players on ice
-
CNBC Daily Open: Is record Black Friday sales spike a false dawn?
-
Freed Israeli hostage describes deteriorating conditions while being held by Hamas
-
High stakes and glitz mark the vote in Paris for the 2030 World Expo host
-
Biden’s unworkable nursing rule will harm seniors
-
Jalen Hurts: We did what we needed to do when it mattered the most
-
LeBron James takes NBA all-time minutes lead in career-worst loss
-
Vikings' Kevin O'Connell to evaluate Josh Dobbs, path forward at QB