by gtmoBlue » Sun May 01, 2022 6:59 pm
A Creighton NIL/Omaha NIL Cooperative Fund could work. It could legally be set up as a Trust, Foundation, or LLC. The top 20 companies (and perhaps a few fatcat individuals) pony up $100K a year, tax-deductible as a business expense. Once set up, the fund could offer CU and UNO athletics NIL deals via OpenDorse or their agents. Typical deals would be in the $50K-100K a year to top CU/UNO athletes. On occasion, maybe a bit higher, given extenuating circumstances ( a top recruit commits).
Hypothetical example:
The ONCF takes in $2.5 million per year. 10-20% operating expenses. In this case 10%. That leaves $2.25 million for NIL deals. The donating companies and individuals audit the ONCF annually or every 2 years as per the ONCF charter. ONCF grants 3 $100k and 5 $50K deals to CU athletes. It grants 1 $100k and 4 $50k deals to UNO athletes. Players earn their NIL via performing advertising, Media campaigns, appearances, corporate promotions, endorsements, social media postings, etc., for the companies funding the ONCF. You know, 'normal' NIL deals.
That's $550K for Jays athletes and $300K for UNO athletes, for a total of $850K in annual deals in year 1 (13 athletes). The other $1.65M is earning interest.
In year 2 maybe a kid graduates or transfers - that grant/deal is not spent, or maybe it is doled out in a new deal to a new player. In any event such NIL deals may expand to 20 athletes (10 per school) annually, over time. Legal, clean, auditable, and equitable to Omaha, both universities, and to the athletes.
Numbers are NOT a distraction. If the Omaha NIL Cooperative Fund gives out standard NIL deals to top athletics, there is no problem. When Gatorade gives out a $2 Million deal to whomever, it is public...not a problem. It is the shady, backroom, under the table deals that bring trouble. None of the typical historical clandestine, under-the-table crap, longstanding with collegiate booster clubs and the like.
Last edited by
gtmoBlue on Sun May 01, 2022 7:59 pm, edited 1 time in total.
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