UNC Forms Initiative to Help Athletes Manage NIL
University leaders hope a collaboration announced this month between three established organizations and a new entity will enable Carolina to attract athletes and compete in the new era of name, image and likeness.
Launched by Carolina Athletics, Carolina NIL brings together the athletics department, The Rams Club, the North Carolina Hall of Fame and Old Well Management, which was formed in January 2023 to help student-athletes navigate the complex NIL environment, according to a press release by UNC’s Office of Athletic Communications. Old Well Management seeks to attract supporters for Carolina student-athletes, the release said.
“Supporting Name, Image and Likeness opportunities is crucial to ensuring that Carolina attracts and develops the very best students and athletes in the world while continuing to build on our championship tradition,” Director of Athletics Bubba Cunningham said in the release. “We are committed to providing championship opportunities for our student-athletes, and consolidating and enhancing our NIL services through Carolina NIL is our next step in this new era of college athletics.”
Facing what would have been a barrage of lawsuits, the NCAA in 2021 voted to allow current athletes to profit from their name, image and likeness, prompting about 14,000 student-athletes enrolled between 2016 and 2021 to file a class-action lawsuit saying they should be allowed to profit, too. In May, the NCAA agreed to pay athletes $2.75 billion over 10 years and to allow the power five conferences, which includes the ACC, to spend about $20 million annually to pay student-athletes, according to The Conversation, a self-described independent, nonprofit, online platform for informed commentary and analysis written by university faculty and researchers.
A new website, CarolinaNIL.com, will serve as “a one-stop location” for student-athletes, fans, supporters, recruits, businesses and the Carolina community to learn more about the services and opportunities it provides, according to UNC’s athletics department. Those services include legal consultation and tax preparation; courses on personal finances, entrepreneurship and business; creative services; and consultation on “all things NIL-related including digital branding, financial planning and networking.”
The website, athletics officials said, will also connect Tar Heels and members of the Carolina community with multiple groups supporting Carolina NIL.
Old Well Management also will connect student-athletes with the Tar Heel community and interested brands, according to the Carolina NIL website. People can make contributions to Old Well Management directly, or advertise with Old Well, help sponsor its events or purchase merchandise through the clothing company Johnnie-O. Brands and businesses can also work with Old Well Management to identify student athletes to support their products.
Men’s Basketball Coach Hubert Davis ’92 told UNC athletics that maximizing NIL opportunities is a “… necessary step in retaining our current student-athletes as well as future Tar Heels, whether from high school or the transfer portal” and called the new venture “critically important” in the quest for conference and national championships.
Field Hockey Coach Erin Matson ’22 encouraged support for Carolina’s student-athletes in a statement released by UNC’s Office of Athletic Communications, saying, “Carolina NIL is a great way for you to get involved to help our student-athletes achieve excellence.”
Head Football Coach Mack Brown said support of the new initiative is critical for the success of Carolina football and Carolina athletics in general. “UNC is a global brand that competes at the highest level in everything we do, and for that to continue, we need to compete in the NIL landscape at the highest level, as well,” he said in a statement.
—Laurie D. Willis ’86
