The Foundation announces plans for spring Ohio State NIL festival
NIL collectives have deployed a variety of fundraising tactics in the past 20 months. Subscription plans have become popular, along with the allure of tax-deductible donations, thanks to 501(c)(3) status.
Trying to provide a feasible return for boosters’ contributions is also becoming a must for collectives. Multiple entities now offer subscription packages, which include gift bundles ranging from T-shirts to exclusive videos from athletes.
Nothing beats access to coaches and athletes, though. When The Foundation, an Ohio State-focused NIL collective, held its season kickoff event in August, 13 experiences were auctioned off for a combined $140,000. Multiple athletes and coaches also attended the event.
A similar event is returning to Columbus this April. The collective announced plans Monday for its spring festival on April 20 at the Schottenstein Center. A slew of current and former players will be on hand, including Troy Smith, TreVeyon Henderson and Emeka Egbuka. Ryan Day and Chris Holtmann will also be in attendance.
Along with another silent auction, dinner will be provided along with photos with the coaches and “behind-the-scenes access.” Two tickets cost $250, with a minimum of $10,000 for a table. All profits from the event will go directly to student-athletes.
Started by Cardale Jones and Brian Schottenstein in January 2022, the organization has signed more than 40 athletes across football and basketball. The Foundation merged with the basketball-centric O Foundation in early February.
“It’s very important that all Ohio State fans buy tickets, tables or sponsor our event, so we can continue to support THE OSU student-athletes on football and basketball,” Jones said in a text to On3. “This is our first event since our merger with The O Foundation, and we are excited about our rebrand we are launching soon, which is already one of the top collective brands in the country.”
Ohio State athletic director Gene Smith attended The Foundation’s kickoff event. He endorsed the organization in December, but Jones told On3 in February that, “even though they [Ohio State] say certain things publicly, they have yet to really have actions behind any of those public statements that make one thing that they support collectives.”
Smith’s name was not included in the poster released Monday.
Importance of raising funds
NIL collectives have surfaced at nearly every Division I school in the first 19 months of NIL. And the word collective, which has no ulterior meaning, has become synonymous with college athletics’ new era. The race is to stockpile the most cash to distribute to current players so recruits know what they can make once they enroll at the college.
The Foundation has set the precedent that NIL opportunities will come at Ohio State. The collective held a signing event at Schottenstein‘s house in January, welcoming five of Ohio State’s 11 mid-year enrollees to the Buckeyes-focused NIL collective. With a photoshoot set up on Schottenstein’s indoor basketball court, Carnell Tate, Jermaine Mathews, Jelani Thurman, Noah Rogers and Malik Hartford each signed their contracts while checks were cut.
Sources across the nation have indicated to On3 that top-tier NIL collectives are operating with up to a $5 million annual budget in football.
“We’re working on a way more to be more transparent with some things and how we operate,” Jones said. “There’s no right or wrong way to go about things. We listen to our supporters, we listen to the fanbase on what they want to see, and what they want us to do. When it comes to support and how they want us to be structured, to make them feel more comfortable, to support us and to donate. So it’s extremely important [to donate]. Not just us, but the longevity of Ohio State.”