LSU’s efforts to raise funds through name, image, and likeness partnerships have this week undergone a significant change.
The Tiger Athletic Foundation (TAF) has formed a new subsidiary announced on Thursday that will work with the athletic department’s NIL collective to improve fundraising capabilities. This partnership aims to streamline the process of providing NIL compensation to athletes by combining all of LSU’s fundraising resources and allowing donors to contribute directly to the collective through their TAF or ticket accounts.
It also said that the new subsidiary, called TAF Services Corporation, and its agreement with Bayou Traditions, LSU’s collective, is the first of its kind. Now, donors can log on to either their TAF account or LSU ticket account and contribute directly to the collective, earning points that make them eligible for gifts.
According to TAF president and CEO Matt Borman, this partnership will provide top-notch fundraising services for Bayou Traditions while also increasing efficiency and success. Donors will now be eligible for membership benefits and priority points; previously they were not when giving directly to Bayou Traditions. However, it should be noted that contributions to the collective are not considered charitable donations and do not qualify for university naming rights.
TAF’s hope is this change will help Bayou Traditions improve its operations and marketing presence in order to generate sustainable streams of revenue and potentially increase its budget for funding LSU’s student-athlete rosters.
Currently, LSU’s collective budgets around $8 million for LSU’s football program, but this is lower than the average distribution of $10 million among SEC collectives, according to industry expert Jason Belzer.
LSU football has chosen to allocate most of these funds towards high school recruits and players developed within the program. LSU coach likened this approach to how the New England Patriots manage their cap space in the NFL.
In May, there was controversy surrounding LSU’s approach to NIL after the Tigers missed out on recruiting two high-profile defensive tackle transfers due to inflated NIL requests in a market with high demand but low supply for players in that position. While revenue sharing may be implemented in college sports because of an antitrust settlement, NIL collectives will likely remain intact under the new financial model.
As schools prepare to pay their athletes a revenue share percentage amounting to around $20-22 million per year starting in 2025, the hope is Bayou Traditions will no longer struggle with exposure and operational issues thanks to the support and resources provided by TAF’s subsidiary under this new partnership.
Be the first to comment