With the massive change in the NCAA landscape in recent years, in which Division I institutions are now able to pay their players, the University of Maine has established a fund to do so in order to remain competitive.
The Black Bear Student-Athlete Experience Fund will allow fans to provide financial support to student-athletes at the discretion of the university or to be given directly to a particular team or student-athlete.
The fund has been established in conjunction with the University of Maine Foundation.
UMaine Vice President and Director of Athletics Jude Killy said in a press release that “we are excited to offer these new opportunities for our incredible fans to further support their favorite Black Bear teams.”
“As the college sports landscape rapidly evolves, UMaine is committed to securing new private and philanthropic funding that enables us to creatively and compliantly support our talented student-athletes and ensure Maine’s leadership and excellence in an increasingly competitive Division I landscape,” Killy added.
In addition to the Black Bear Student-Athlete Experience Fund, fans can also support the program in Name, Image and Likeness ventures through Van Wagner and athletic sponsorship packages, Bear Down Collective and Icon Source.
Van Wagner is involved with digital advertising, broadcast rights, hospitality, premium signage, jersey patches and game day marketing assets with companies being able to work with student-athletes for brand representation and integration as official sponsors.
Bear Down Collective is the official collective on UMaine Athletics and each membership level offers exclusive benefits. Contributions can be designated by specific sport.
Icon Source is a digital marketplace that unites agents, student-athletes and brands. It is the only platform that supplies brands of all of all sizes direct communication with agents or student-athletes themselves. All student-athletes from UMaine who sign up for the Icon Source NIL exchange are able to sign contracts for sponsorships, endorsements and engagement deals with no fees to student-athletes.
But the use of university marks and facilities is restricted to only those companies that are official sponsors.
The $2.8 billion House vs. NCAA settlement, which was approved last June, allows Division I schools to directly share revenue with student-athletes up to $20.5 million annually per school.
Student-athletes began earning NIL money on July 1, 2021.
Newport’s Cooper Flagg reportedly earned $28 million in NIL revenue at Duke University last year through sponsorships, and hockey freshman Gavin McKenna reportedly received a $700,000 NIL deal from Penn State University for this season. It is the largest NIL deal awarded in college hockey.
McKenna is one of 10 finalists for the Hobey Baker Award, which goes to the nation’s top player.
The left winger is expected to be the first overall pick in this summer’s National Hockey League draft.
