Texas NIL Market Survey
With the recently approved Name, Image and Likeness (NIL) rules for college athletes, where college athletes can now legally make money off their NIL, there will be a major impact on college programs like the University of Texas. Schools that embrace NIL and ensure their athletes are benefitting from NIL opportunities will be the major powers in college sports. Those that don't risk erosion of their programs over time.
To help the University of Texas be as effective as possible with NIL, a new company (call it Texas NIL) will bring together the Texas community to help create and facilitate NIL opportunities for University of Texas athletes. Many fans have expressed interest in contributing to this initiative. They want to experience the satisfaction and excitement of helping Texas, just like a donor, and they want to get closer to the Texas athletic community.
An example of an NIL initiative is the recently launched Burnt Ends program from Surlyhorns.com. This program aims to endow the tight end position at Texas, providing funds to the tight ends on the UT football team in exchange for their promotional efforts and Surly's use of their name, image and likeness in association with Surly's marketing of their website. There is an opportunity to do many more programs like this. However, according to NIL rules the University of Texas itself is not allowed to drive these NIL intiatives themselves. Thus, a company like Texas NIL would help tremendously.
Texas NIL would be a for-profit business that enables exciting UT sports experiences by leveraging the 5+ million community of Texas fans. Fans could become members of Texas NIL for an annual membership fee. Once the membership fee is paid, most or all of any additional contributions made would go straight to the athlete as part of an NIL campaign.
In one example, Texas NIL might create a major autograph signing event for $150 per autograph (called an NIL campaign). Fans would pay their $59 annual membership fee, then all of the $150 they pay for autographs would go to the athlete.
Fans would have an opportunity to not only help Texas and their athletes be successful under NIL, but also experience an up close and personal interaction with the Texas athletic community. By providing extensive NIL opportunities like this to Texas athletes, the University will recruit and retain athletes more successfully, and have more success in their athletic programs.
Given this opportunity, we want to understand Texas fan's interest in this initiative. Below are 7 questions on the topic.