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.