If you see fancy and expensive cars driving around the Providence College (PC) campus this year, there is a good chance they belong to men’s basketball team players. PC Athletic Director Steve Napolillo has told GoLocal the combined revenue paid to the men’s basketball team...
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-> PC Athletic Director Steve Napolillo has told GoLocal the combined revenue paid to the men’s basketball team from name, image, and likeness (NIL) money will exceed $1 million this year. This money is in addition to the $83,000 annual scholarships players receive.
PC basketball players are making money because they are on the basketball team. However, the school is not paying them. An independent third party is. Six months after payments for NIL to college athletes became legal, supporters of Providence College Athletics established an independent organization whose mission is to raise money and funnel it to athletes. It is called the Friar Family Collective (Collective),
The Friar Family Collective.
An illustrative example is if a basketball player gives a five-minute speech at a corporate event, the Collective will deposit a $10,000 check into his bank account. The Collective will ensure that there is a picture of the player at the event for the compliance file. The Collective will also help the player with documentation for taxes. <-