The Collective operates independently, but it works together with Tennessee Tech Athletics to create NIL opportunities
Name, Image and Likeness, which allows student-athletes to make money from their brand, has taken hold across the nation. It has changed the landscape of collegiate athletics, and gone are the days of boosters sliding $100 bills into envelopes for broke college athletes. Athletes are cashing in big, and The Golden Eagle Collective is leading the charge on Tennessee Tech’s foray into the NIL world.
Wayne Cravens manages the organization but says most of the collective’s functions will shift to the university in a “couple of years.”
The mission of The Collective is to facilitate NIL partnerships between Tennessee Tech student-athletes, local businesses, community organizations, nonprofits and fans. By working in lockstep with Tennessee Tech Athletics, the collective ensures efforts align with the University’s vision for success, providing key benefits that enhance the overall student-athlete experience.
By aligning key benefits, such as access to exclusive events, behind-the-scenes content and direct engagement with student-athletes, the collective strengthens the connection between the university, its supporters and its athletes.
“The collective will have expenses but, between me and some others, we have reduced their burden on the collective. I don’t think we will have money left over, but if or when we do, it’s going to the University in some way to avoid taxation,” Cravens told the Upper Cumberland Business Journal.
What percentage of funds raised go to the student-athletes?
“All but the 10% take of the donations and memberships below $5,000 that go to the marketing company, NIL Edge,” said Cravens.
Although the Collective operates independently, it works together with Tennessee Tech Athletics to create “seamless, strategic NIL opportunities.” Cravens says he is looking into what percentage the Collective recommends each company allocates for NIL in its budgets. Industry standards are still fluid, but 5% to 10% seems feasible.
Cravens says contracts usually last a year, but The Collective is looking at providing benefits to companies that look to make a longer commitment.
“Our contracts thus far have all been 12 months with larger percentages geared toward making it through portals and the season. Payments are not at all perfectly even,” said Cravens.
The Collective looks to have 250 initial members designated as “founding members” as a “tribute to those who believe in this initiative from the beginning and are committed to Tennessee Tech’s success.”
For more information, visit www.goldeneaglecollective.com.
UCBJ file photo.
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