On Monday afternoon, members of the Michigan football team began posting messages on social media to preview an announcement regarding name, image and likeness.
By Monday evening, word of a fresh collective designed to compensate players on U-M’s roster began to permeate the fanbase.
By Tuesday morning, the website housing Michigan’s latest collective had already received nearly $8,000 in pre-launch donations.
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The newly created Ann Arbor NIL Club is described as a “player-led fan community” that funnels money directly to players, who will split the proceeds equally across the roster. The club’s goal, according to its website, is to support more than 110 football players with a monthly haul of $50,000. It’s a concept similar to collectives created at Michigan State, Auburn, Arkansas and Kansas State.
The minimum donation is $5 per month. There is no cap on the amount of money that can be donated. An 18% cut is taken by the technology company YOKE, which oversees the membership platform.
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“Through the Ann Arbor NIL Club, these members of the team provide fans with digital content and experiences such as digital meet-and-greets, player-recorded content, and much more throughout the year,” the website says. “The AANC generates revenue through fans subscribing to the club. A monthly commitment of any amount allows fans to join the NIL Club and access AANC-exclusive chat rooms, message boards, and content.”
The AANC becomes the fourth known collective tied to Michigan football along with Champions Circle, Stadium & Main and MGoDAO.
Contact Michael Cohen at [email protected]. Follow him on Twitter @Michael_Cohen13.
This article originally appeared on Detroit Free Press: Ann Arbor NIL Club is the new Michigan football collective