Memphis announces NIL partnership through 901 Fund, The Peabody
Memphis announced Monday that the name, image and likeness collective the 901 Fund facilitated a partnership between the Tigers’ men’s basketball team and the hotel The Peabody Memphis. Memphis players will use their NIL rights to promote local charities.
Guests who book a night’s stay at The Peabody Memphis through the 901 Fund’s “NIL package” will help fund opportunities for Memphis athletes. The Peabody Memphis’ website says each reservation will result in a $75 donation to the 901 Fund, “earmarked for Memphis men’s basketball to further connect student-athletes with charitable organizations in the City of Memphis.”
The NIL package starts at $275.
“The Peabody is a proud supporter of Memphis Tiger Men’s Basketball, and we’re thrilled to be able to support Memphis’ student-athletes and local charities through the 901 Fund,” Peabody Hotels & Resorts President Douglas V. Browne said in a statement.
Last week, Memphis senior forward Malcolm Dandridge served as Honorary Duckmaster, which is a ceremonial role based around the twice-a-day tradition of ducks visiting the fountain in the hotel lobby at 11 a.m. and 5 p.m. CT every day.
A press release said past Honorary Duckmasters have included Kevin Bacon, Larry King, Martin Short, Oprah Winfrey and Patrick Swayze.
“As a Memphian, being the Honorary Peabody Duckmaster was a truly amazing experience,” Dandridge said in a statement. “I’m thankful to The Peabody and the 901 Fund for their support, and my teammates and I are excited to help promote local charities and the work they do in our City.”
The Peabody Memphis will also contribute $1 to the 901 Fund for every sale of its “Arctic Tiger” cocktail and its lemon and blueberry Bavarian tart. The items are sold in its lobby bar and deli.
The 901 Fund creates NIL opportunities for Memphis athletes
The 901 Fund launched in March 2022 as a nonprofit organization. Its website lists six steps for an NIL partnership. Fans, alumni and businesses can make a donation to the 901 Fund, which then partners with a charity.
The collective posts the NIL deal on the marketplace run by the NIL technology company Opendorse. Athletes can accept the terms of an agreement and submit proof of their deliverables through Opendorse. Then Opendorse will provide the funds to the athletes and disclose the transaction to compliance staff members at the university.
The 901 Fund’s website states it intends for 85 percent of funds to go to Memphis athletes. A board of trustees raises the funds for the collective and ratifies its audits, according to the website.