Baylor Football Inks Estimated Million-Dollar Team NIL Deal
Baylor players will have the opportunity to earn an estimated tens of thousands of dollars in a new NIL Deal with Startup Waco
Startup Waco— along with their Green and Gold Exchange (GXG) program— announced today a roster-wide NIL Deal with the Baylor Bears football team that is potentially worth millions.
All football players, including walk-ons, can earn what is estimated to be tens of thousands of dollars by participating in this NIL deal.
Baylor lists 112 players on their online roster, which means if all are paid in that range then the total deal size will be worth well over a million dollars.
In order to be paid, players will have to complete specific benchmarks such as engaging in the community; promoting the work of Startup Waco and its partners; and participating in NIL education and other development programming.
Jon Passavant, the CEO of Startup Waco, said this has been in the works for nearly a year and boldly claimed, “We wanted to create a program that isn’t driven primarily by the economics of NIL, but leverages it to provide unique development opportunities for these athletes that benefits them and our ecosystem holistically.”
“We wanted to create a program that isn’t driven primarily by the economics of NIL, but leverages it to provide unique development opportunities for these athletes that benefits them and our ecosystem holistically.” — Jon Passavant, Startup Waco CEO
Last week Baylor Athletics announced a new partnership with the local non-profit to support the entrepreneurial development of their 500+ athletes. While all Baylor athletes can work with GXG; this football specific NIL deal was a critical first step to begin integrating Baylor student athletes within the Waco business community.
“It was essential for me and to our team to make sure that we made this engagement available to the entire roster, including all walk-ons.” said Jacob Kehoe, the Assistant Director of Startup Waco and main lead of the GXG program. “I can’t wait to see the impact this has, not only for the student-athletes but also for the entire Waco economy as a whole. This is just the beginning.”
“This is just the beginning.” — Jacob Kehoe on Startup Waco’s partnership with Baylor.
Team wide NIL deals are beginning to become common practice:
SMU football & Men’s Basketball & The Boulevard Collective - $36,000 per player (annual)
Texas Tech football & The Matador Club - $25,000 per player (annual)
Florida State Football & Yummy Crypto - $500 per player (one month)
South Carolina Women’s Basketball & The Garnet Trust/NOCAP Sports - $25,000 per player (annual)
Although Baylor’s team deal has a slightly different structure when compared to other NIL Collectives, their mission is the same: educate the student athlete; assist in their brand development; and connect them with businesses seeking NIL partners.
To do so, Startup Waco has partnered with the Dallas-based creative marketing and influencer agency Progage that seeks to create meaningful partnerships between athletes and brands.
Baylor linebacker Dillon Doyle, who had an interception last night in the Bears’ loss to West Virginia, said, “I’m excited to have Progage helping us with NIL deals. Their focus on building our brands off the field allows us to focus on excellence on the field.”
“I’m excited to have Progage helping us with NIL deals. Their focus on building our brands off the field allows us to focus on excellence on the field.” — Dillon Doyle
According to Kehoe, the deal’s first deliverable is set to kick off next week with the remaining to be completed after the season as to not distract or add an additional workload for the players.
About Startup Waco & GXG
Startup Waco is a local non-profit focused on inclusivity; championing entrepreneurs; and breaking down traditional business barriers.
GXG aims to help Baylor athletes maximize their Name-Image-Likeness (NIL) potential through deal monetization; networking events; and other focused programming on entrepreneurship.