Latest news with #CareyHoyt
USA Today
2 days ago
- Business
- USA Today
Ohio State announces the creation of consolidated NIL initiative
Ohio State announces the creation of consolidated NIL initiative With the approval of the House Settlement for distributions and allowance of direct student-athlete pay, things will continue to change, most notably with Name, Image and Likeness (NIL). The days of large, somewhat vague NIL deals are gone, with anything over $600 needing to be approved by an NCAA Clearinghouse. To meet the demands of a changing landscape of NIL, Ohio State has announced the creation of the "Buckeye Sports Group." In partnership with Learfield, the OSU Department of Athletics has created the initiative to "support, streamline and enhance Name, Image, and Likeness (NIL) opportunities for Ohio State student-athletes," the university announced on Tuesday. 'Ohio State has always been a leader in college athletics, and this initiative is another step forward to build upon our strong NIL foundation,' said Carey Hoyt, Ohio State's Deputy Director of Athletics in a statement. 'By combining the power of our athletic brand with Learfield's expansive network, we are creating an innovative, full-service approach to NIL that directly benefits our student-athletes.' Ohio State will work with Learfield Impact, the company's industry-leading NIL services, to dedicate on-campus leadership professionals who will prioritize Buckeye student-athlete brand engagement and content-driven campaigns. Buckeye Sports Group (BSG) will have access to Learfield's Compass NIL technology broker deals and gather insights into student-athlete interests so that they can build brand connections. Buckeye Sports Group will focus on three comprehensive strategies to move NIL efforts forward: deal facilitation and management, content creation and storytelling, and support services. NIL Deal Facilitation & Management o Negotiating and securing brand partnerships locally, regionally, and nationally for student-athletes. o Overseeing contract preparation and fair market value assessments. o Utilizing analytics to track NIL performance and return on investment. Content Creation & Student-Athlete Storytelling, powered by Learfield Studios o Creating athlete-driven digital content, including social media campaigns, video series and podcasts. o Leveraging Learfield's Fanbase data and digital expertise to optimize distribution across social media and digital channels. o Providing marketing resources for brand collaborations to maximize results, including the use of Ohio State marks, logos and access to campus facilities. Athlete Support & Services o Providing financial literacy and tax support through partnerships with industry experts. o Offering branding and social media growth training to help athletes build their personal brands. o Connecting student-athletes with brand partners to provide business experience, micro-internships and build professional networking relationships with companies. With the new approach to NIL, Buckeye Sports Group will also work to consolidate current collectives already in place under one vision and strategy so that all efforts are working together under the same parameters and in concert, something that will be paramount to forging ahead in yet another new frontier in college athletics. We are committed to making Ohio State the premier destination for NIL success,' Hoyt added. 'With Buckeye Sports Group, we're building a model that will serve as the new standard for college athletics.' Contact/Follow us @BuckeyesWire on X (formerly Twitter) and like our page on Facebook to follow ongoing coverage of Ohio State news, notes and opinion. Follow Phil Harrison on X.
Fox Sports
3 days ago
- Business
- Fox Sports
Ohio State launches 'Buckeye Sports Group' to enhance NIL opportunities
Ohio State is officially bringing its NIL collectives in-house. According to multiple reports, Ohio State's athletic department is teaming up with Learfield's Ohio State Sports Properties to form "Buckeye Sports Group," an initiative designed to support and enhance NIL opportunities for Ohio State athletes. This news comes on the heels of the House v. NCAA settlement being formally approved, in return, paving the way for schools to now begin paying their athletes millions of dollars as soon as next month. The terms of the House settlement include approval for each school to share up to $20.5 million with athletes over the next year and $2.7 billion that will be paid over the next decade to thousands of former players who were barred from that revenue for years. With the creation of the "Buckeye Sports Group," Ohio State will now consolidate the school's two existing NIL collectives, the 1870 Society and The Foundation. The partnership with Learfield will allow Buckeye athletes to access the sports marketing companies' NIL technology, which will in return assist athletes with brand deals, corporate partnerships and personal brand development in a more organized manner. "Ohio State has always been a leader in college athletics, and this initiative is another step forward to build upon our strong NIL foundation," Ohio State's Deputy Director of Athletics Carey Hoyt said in a release, announcing the NIL partnership. "By combining the power of our athletic brand with Learfield's expansive network, we are creating an innovative, full-service approach to NIL that directly benefits our student-athletes." Moving forward, financial agreements reached between athletes and third parties won't count toward an athletic department's annual cap, though any deal greater than $600 is now subject to approval by NIL Go, an online clearinghouse within the College Sports Commission, a freshly formed regulatory body created in response to the House v. NCAA lawsuit. Ohio State has already been at the forefront when it comes to success in the NIL space. Sophomore wide receiver Jeremiah Smith has a reported NIL valuation of $4.2 million according to On3, which ranks third-highest among all college athletes, and he's inked notable deals with Nintendo, Red Bull and Lulelemon. Smith was recently unveiled as a co-cover star athlete for "College Football 26." Fellow Buckeye football standout Caleb Downs has already had remarkable NIL success as well, carrying an NIL valuation of $2.4 million, which also ranks among the top valuations in college athletics. Downs, who transferred to Ohio State from Alabama following Nick Saban's retirement in 2024, has partnerships with Panini, Beats by Dre and American Eagle. "As we enter a new era for college athletics, we're excited to build on our past successes and create even more meaningful NIL opportunities for Ohio State student-athletes," Vice President & General Manager of Learfield's Ohio State Sports Properties Todd Knisley said in the release. "With the strength of Buckeye Nation behind us, we're able to unlock incremental opportunities for partnerships on a local, regional, and national scale." Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily . FOLLOW Follow your favorites to personalize your FOX Sports experience College Football recommended Get more from College Football Follow your favorites to get information about games, news and more
Fox Sports
3 days ago
- Business
- Fox Sports
Ohio State launches 'Buckeye Sports Group' a groundbreaking NIL initiative
Ohio State is officially bringing its NIL collectives in-house. According to multiple reports, Ohio State's athletic department is teaming up with Learfield's Ohio State Sports Properties to form "Buckeye Sports Group," an initiative designed to support and enhance NIL opportunities for Ohio State athletes. This news comes on the heels of the House v. NCAA settlement being formally approved, in return, paving the way for schools to now begin paying their athletes millions of dollars as soon as next month. The terms of the House settlement include approval for each school to share up to $20.5 million with athletes over the next year and $2.7 billion that will be paid over the next decade to thousands of former players who were barred from that revenue for years. With the creation of the "Buckeye Sports Group," Ohio State will now consolidate the school's two existing NIL collectives, the 1870 Society and The Foundation. The partnership with Learfield will allow Buckeye athletes to access the sports marketing companies' NIL technology, which will in return assist athletes with brand deals, corporate partnerships and personal brand development in a more organized manner. "Ohio State has always been a leader in college athletics, and this initiative is another step forward to build upon our strong NIL foundation," Ohio State's Deputy Director of Athletics Carey Hoyt said in a release, announcing the NIL partnership. "By combining the power of our athletic brand with Learfield's expansive network, we are creating an innovative, full-service approach to NIL that directly benefits our student-athletes." Moving forward, financial agreements reached between athletes and third parties won't count toward an athletic department's annual cap, though any deal greater than $600 is now subject to approval by NIL Go, an online clearinghouse within the College Sports Commission, a freshly formed regulatory body created in response to the House v. NCAA lawsuit. Ohio State has already been at the forefront when it comes to success in the NIL space. Sophomore wide receiver Jeremiah Smith has a reported NIL valuation of $4.2 million according to On3, which ranks third-highest among all college athletes, and he's inked notable deals with Nintendo, Red Bull and Lulelemon. Smith was recently unveiled as a co-cover star athlete for "College Football 26." Fellow Buckeye football standout Caleb Downs has already had remarkable NIL success as well, carrying an NIL valuation of $2.4 million, which also ranks among the top valuations in college athletics. Downs, who transferred to Ohio State from Alabama following Nick Saban's retirement in 2024, has partnerships with Panini, Beats by Dre and American Eagle. "As we enter a new era for college athletics, we're excited to build on our past successes and create even more meaningful NIL opportunities for Ohio State student-athletes," Vice President & General Manager of Learfield's Ohio State Sports Properties Todd Knisley said in the release. "With the strength of Buckeye Nation behind us, we're able to unlock incremental opportunities for partnerships on a local, regional, and national scale." Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily . FOLLOW Follow your favorites to personalize your FOX Sports experience College Football recommended Get more from College Football Follow your favorites to get information about games, news and more
