The Partnership earmarks up to $200 million to help student-athletes to unlock the earning potential of their NIL rights.
NEW YORK, Sept. 9, 2024 /PRNewswire/ — NILLY, a financial technology platform co-founded by NBA champion Kendrick Perkins to enable, empower, and enrich student-athletes in the Name, Image, and Likeness (“NIL”) era, today announced a strategic partnership with Harlan Capital Partners, a leader in specialized private credit investments. The collaboration earmarks up to $200 million to be advanced to current and committed college athletes and will allow NILLY to further develop and enhance the first-of-its-kind platform.
Launched in February 2024, NILLY addresses many of the unique challenges faced by student-athletes in the rapidly evolving NIL era. In exchange for licensing their NIL rights, NILLY provides athletes with upfront license payments, access to financial education resources and advisors, additional NIL earning opportunities, and optimization of those NIL rights. Since its launch, NILLY has proven to be incredibly popular, attracting athletes attending schools including Stanford, UCLA, West Virginia, Colorado and Seton Hall.
“NILLY attempts to solve a critical challenge for student-athletes, providing them with a clear path to tap into their true NIL earnings potential and the resources needed to maximize their success,” said Chris Ricciardi, CEO and Co-Founder of NILLY. “We are thrilled to have Harlan Capital as a partner in this journey, bringing their unique expertise and strategic vision for enhancing the value of intellectual property to help expand our platform and reach more athletes.”1
Under the terms of the partnership, Harlan Capital Partners will provide significant funding through a forward-flow agreement, with the potential to advance up to $200 million to college athletes supported by their NIL licenses. This investment will enable NILLY to sign new athletes and continue building out the platform’s features, ensuring that student-athletes have the tools and support they need to succeed both on and off the field. As the NIL space continues to expand, NILLY’s unique platform is poised to play a crucial role in helping student-athletes navigate and capitalize on this new era of collegiate athletics.
“We feel the investment in NILLY aligns with Harlan Capital’s strategic focus on asset-based opportunities in areas undergoing rapid global change,” said Josh Harlan, Managing Partner of Harlan Capital Partners. “NIL rights represent a novel form of intellectual property, and we believe NILLY’s platform is uniquely positioned to capitalize on the rapid growth in this space. We are excited to partner with industry leaders who share our vision of delivering tailored capital solutions that create long-term value.”
Kendrick Perkins, Co-Founder and Brand Ambassador of NILLY, emphasized the platform’s impact on today’s student-athletes: “When I was a top high school recruit, I had to go pro for financial reasons. If I had been able to earn NIL endorsements back then, I could have enjoyed the college basketball experience while also providing for my family. NILLY provides today’s student-athletes access to the structure, opportunity, and education that can set them on a course to reap financial success as they progress in their athletic lives. As true partners in their success, NILLY will open the doors to the opportunities I wish I had.”
For more information about NILLY, visit www.nilly.us.
About NILLY, LLC
NILLY is a financial technology platform that allows athletes to capitalize on their NIL earning potential. NILLY offers an upfront cash license payment to student-athletes and then optimizes those NIL rights on its platform.
Interested student-athletes can learn more about NILLY and submit their information for consideration by visiting athlete.nilly.us.
ABOUT HARLAN CAPITAL PARTNERS
Harlan Capital Partners is an investment advisory firm formed in 2010 by Joshua D. Harlan and Leonard M. Harlan. Headquartered in Palm Beach, FL, Harlan Capital focuses on asset-based finance and opportunistic credit investments in niche and emerging asset classes and business models within the lower middle market. For more information, please visit www.harlancapital.com.
1 DISCLAIMER
The testimonials of current or former portfolio company executives are illustrations designed to demonstrate the benefits to portfolio companies of partnering with Harlan Capital Partners and are not intended to solicit investors. No compensation has been provided for receiving these testimonials. However, Harlan Capital Partners may have the ability to exercise a certain level of discretion over the compensation, promotion, and other employment decision of these individuals.
SOURCE NILLY
