[Columbia, SC, August 31st, 2023]. Garnet Trust, The University of South Carolina’s Official NIL Collective, has tapped NOCAP Sports to build and manage its commercial NIL functions on behalf of the University’s athletes. NOCAP will assume the responsibility of establishing marketing partnerships between South Carolina athletes and supporting brands and businesses, in an effort to increase athlete earnings and utilize their influence among fans to the businesses’ benefit.
Traditionally, collectives have leaned solely on support from the program’s boosters and donors to finance NIL-related endeavors for their athletes. As the landscape of NIL continues to evolve and donor fatigue emerges as a genuine concern across the industry, it becomes imperative for collectives to adapt and establish incremental – and more sustainable – income channels.
Through this partnership, Garnet Trust and NOCAP have established a Columbia-based team, including multiple roles that collectively manage marketing and lead generation, community outreach, business development, and client success. The team includes professionals with backgrounds in advertising and media, influencer marketing, team sponsorships, client relations, and more, and benefits from NOCAP’s experience as a leading innovator in the NIL industry nationally. In its first month, the newly-established group has already received commitments equating to six-figure athlete earnings, and established a sizable sales pipeline.
“Understanding the pressure NIL places on individual donors, Garnet Trust is well ahead of the curve in preparing for the future of NIL,” said Nicholas Lord, Co-Founder and CEO of NOCAP Sports. “It’s crucial for collectives to develop new ways to supplement and distribute NIL funding, and we’re excited Garnet Trust has chosen to do so in a way that can also deliver positive outcomes for participating brands and businesses.”
Garnet Trust was built on the idea that all athletes should have the opportunity to monetize on their name, image and likeness. Some athletes have already built brands while others have not had the opportunity, and so Garnet Trust offers them the chance to take advantage of what NIL has to offer. Garnet Trust offers financial guidance, tax preparation and accounting services, communications and media training, and brand management to all South Carolina athletes. The collective has activated over 110 athletes in 2023 already, more than 50% of which are women, and is looking to significantly expand that number with the help of NOCAP.
“We are thrilled to partner with NOCAP Sports. Our goal since day one has been to build a collective that services all student-athletes at the University of South Carolina,” said Jeremy
Smith, Managing Director of the Garnet Trust. “NOCAP Sports brings the needed experience, training and infrastructure to us when it comes to partnership-building and commercial revenue generation, allowing us to build a sustainable collective model for both current and future South Carolina athletes long-term.”
Since the introduction of NIL changes in July of 2021, NOCAP Sports has focused its efforts primarily on helping national brands and agencies navigate the intricacies of NIL. Through its technology and team, NOCAP has successfully managed thousands of brand-athlete collaborations, and intends to apply many of the same principles to Garnet Trust’s work in the South Carolina market.
“It was a natural progression for us to take what we are doing at the national level and apply it locally,” said Lord. “Combining a boots-on-the-ground operational framework with our national team’s efforts should lead to a large amount of high-quality opportunities for South Carolina athletes, and should assist in reducing the pressure on the program’s donors. In addition to local deals, we also see this as a way to bring more national brand opportunities to athletes on South Carolina’s campus.”
When orchestrated effectively, college athletes possess the potential to profoundly impact a business’s growth. With Garnet Trust’s integral role within the community and its designation as the University’s official collective, athletes’ effectiveness as influencers, and NOCAP’s experience in scaling athlete marketing initiatives, this partnership is geared to make a distinguishable impact on the athletic program’s NIL endeavors – and among the community of fans and businesses.
About the NOCAP Sports Collective Offering
NOCAP Sports creates powerful connections between athletes and advertisers, and serves as a leading athlete marketing technology and services provider. As NIL has evolved and with the rise of donor-powered collectives, NOCAP developed a solution to support the long-term sustainability of collectives’ revenue-generating efforts, built on the foundations of its success forging marketing partnerships between national advertisers and athletes across the US. Learn more at https://nocapsports.io/collectives/.
About Garnet Trust
Garnet Trust launched in 2021 as a built-to-last NIL entity. It creates experiences between the University of South Carolina fan base, student-athletes and businesses using sponsored interviews, fan events, video platforms, content, social media and promotional opportunities, among other opportunities that help student-athletes build a financial future for themselves. More information is available at garnettrust.com.
ps NOCAP Sports as its Commercial NIL Partner