Reports: Arizona State boosters to unveil 7-figure NIL collective in May
The Arizona State Sun Devils’ boosters are reportedly unveiling a seven-figure name, image and likeness (NIL) collective for the school’s marquee sports, according to Sun Devil Source.
The idea to start the collective comes amid players such as wide receivers Ricky Pearsall, LV Bunkley-Shelton and Freshman All-American linebacker Eric Gentry all cited NIL reasons for their departure into the transfer portal. The Sun Devils also lost starting quarterback Jayden Daniels to LSU in the portal.
The list of prominent Sun Devils to enter the transfer portal continued on Friday as center Ezra Dotson-Oyetade and star defensive tackle Jermayne Lole announced their intention to enter the portal.
Lole also said he was entering the transfer portal due to NIL reasons but could return to Tempe. He could demand up to a six-figure deal, Sun Devil Source’s Chris Karpman reported.
The new entity, which will have at least six founding members and allow for up to 15 board seats, is anticipated to apply to the IRS for non-profit 501(3)(c) status in May. The board’s current composition includes expertise in marketing, sports law, financial and tax advisory and non-profit operations. It has already received commitments totaling several hundred thousand dollars, with a goal of at least a million dollars pledged by launch and multiple millions of dollars derived from benefactors on an annual basis.
The money will be used mostly on the football and basketball team to keep the premier players in Tempe. There is a chance to use funding toward unsigned recruits as well.
Members of the Sun Devil athletic department have been in contact with the collective and have “expressed support, generally, for their agenda,” Karpman wrote.