“I thought we were going to do it internally and I quickly realized we wouldn’t,” she said during the panel. “Our legal counsel advised us to get help with all the different nuances of the state.” Outback ended up partnering with Excel Sports Management.
Another challenge has been working with the busy schedules of varsity athletes.
“Between lessons, practices and other engagements, we’ve found that a lot is planned at the last minute,” Morales said.
Starting October 23, Outback will be donating meals to military families in need through the non-profit Operation Homefront. Players will also be hosting local “give back” nights with their teammates in select locations in the Outback to raise money for their favorite charities.
Other panelists added that educating student-athletes is a big part of working with them, as many don’t have agents. Often brands are also chatting with a relative or other family member. “Education is essential for these athletes,” said Josh Goodstadt, executive vice president of licensing at THINK450, the for-profit licensing and business development entity of the National Basketball Players Association. “Many don’t know they should ask questions about tenure or exclusivity rights. ”
Former Rutgers football player Eric LeGrand added that students exercising their NIL rights would do well to find a financial advisor or get help from their school.
“You have to rely on some form of financial advice. Some of those deals can be six digits, ”he said. “You want to make sure you’re setting aside the right amount of taxes and building up your savings, especially when most of these athletes aren’t going to be professional. “