Iowa's Caitlin Clark becomes first college athlete to ink NIL deal with State Farm
Caitlin Clark is arguably her sport’s next big star.
The reigning National Player of the Year opted to return to Iowa for another year, pushing pause on her WNBA lottery status. Her run through the NCAA tournament that ended in the national championship game against LSU set TV records. The title game is the most-watched women’s basketball game of all time.
Clark became the first player in NCAA tournament history to record back-to-back 40-point games. Now she has entered a long-term NIL deal with State Farm, a no-brainer for the insurance group. The point guard is the first college and female athlete to sign with the company, joining a list of ambassadors headlined by Patrick Mahomes and Chris Paul.
As part of the agreement, she could appear in commercials, social media advertisements and events repping State Farm.
“Sports marketing is a key part of our growth strategy, and our investment over the last several decades has shown great business impact,” State Farm chief marketing officer Kristyn Cook said in a statement. “Welcoming Caitlin Clark to our team expands and strengthens our ability to positively impact communities, engage with audiences in meaningful ways, and reinforces our commitment to raising the visibility of women in sports. As a fellow Good Neighbor, we can’t wait to drive progress forward together with Caitlin for years to come.”
Why is State Farm getting into NIL?
State Farm is a group of mutual insurance companies spread throughout the U.S. Founded in 1922, Clark makes history with the signing of the endorsement deal. To commemorate the occasion, Jake from State Farm gifted the 6-foot point guard a pair of khakis.
The insurance group is a known supporter of college athletics, stepping in as the headliner sponsor of the Champions Classic. Clark appears in the promotional material in her Iowa uniform. Wearing the black and gold colors means State Farm secured intellectual property usage, allowing the Iowa star to represent her school. It’s become a popular move for brands, as most athletes are more recognizable in their uniform or college environment.
“State Farm is a team that looks out for others, which is exactly the kind of legacy I want to leave beyond the basketball court,” Clark said. “I’m honored to be the first college athlete to join the Good Neighbor team – in khakis of course and look forward to growing the women’s game together.”
Caitlin Clark continues to win in NIL
Caitlin Clark, who has NIL deals with Buick, Nike and Hy-Vee, has seen her social media following take off since last spring’s Final Four. After averaging 27.8 points last year, she now has more than a million followers. The point guard has 43 career double-doubles.
She signed with Nike in October as an obvious long-term play for the sportswear brand. The brand launched name and number tees and sweatshirts for the Iowa guard ahead of the NCAA tourney, one of the first moves by Nike to monetize her NIL outside of social media posts. She recently appeared in promotional material for the brand’s Nike Tech merchandise.
Her value in the Iowa market only continues to rise, too. She held multiple skills camps this summer, which sold out in a matter of hours. Returning for another year opens up plenty of endorsement possibilities.
Caitlin Clark’s On3 NIL Valuation is now up to $752,000, a significant jump from last season. The valuation is No. 44 in the On3 NIL 100, which is the first of its kind and defacto NIL ranking of the top 100 high school and college athletes ranked by their On3 NIL Valuation. The valuation also ranks No. 3 in women’s basketball.