We’ve been tracking NIL Collectives for months now, and it seems we add a new one every few days. The latest? Nittany Commonwealth, formed to benefit Penn State student athletes.
The collective’s release says the group wants to ensure “Penn State teams remain competitive, expand their national prominence, keep their current athletes out of the transfer portal and enhance the opportunities for current and newly enrolled athletes to maximize their NIL earnings.”
In addition to helping create NIL opportunities for student athletes, the Nittany Commonwealth plans to offer mentorship and professional development opportunities. A premium “Insider” membership will be offered for supporters, and the group plans to support charities in the hometowns and cities of Penn State athletes.
Nittany Commonwealth already has an established partnership with YMCA of Pennsylvania, which will allow it to conduct programs throughout the YMCA network in the state.
“Nittany Commonwealth will give businesses and members the opportunity to forge meaningful relationships with athletes, as well as provide the athletes benefits beyond strong financial performance,” said Michael Krentzman, a Pennsylvania attorney who founded the collective. “Nittany Commonwealth will help athletes build their futures through the relationships formed through the collective, and in so doing, the collective will provide benefits that transcend the length of a collegiate athletic career.”
The collective has partnered with ReKTGlobal and its Xchange Factor platform, which will provide compliance and athletic auditing tools. The platform will also help facilitate the premium insider program, giving members access to student athletes through virtual and in-person meet-and-greet events, exclusive merchandise, NFTs and more.
Nittany Commonwealth plans to leverage an experienced marketing team to create ongoing opportunities for student athletes with local, regional and national corporate partners.
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