502Circle
502Circle is the Official NIL Collective of the Louisville Cardinals, established to provide opportunities for UofL student-athletes to maximize their NIL based on hard-earned success.
No, NCAA rules prohibit universities from owning and/or running collectives.
502Circle has a board and three full-time employees. Their purpose is to raise funds, create awareness and educate the community, identify non-profit organizations to partner with, serve as ambassadors in the community, and plan and fulfill in-person and digital events.
The 502Circle can coordinate with non-profits and identify opportunities for UofL student-athletes to help support their mission.
NIL
NIL stands for “Name, Image, and Likeness” specifically referring to the use of an athlete’s NIL through marketing and promotional endeavors. Student-athletes at NCAA institutions could begin monetizing their NIL beginning on July 1, 2021.
Generally speaking, all NIL activities are permitted, as long as they follow these four guidelines:
- There must be a quid pro quo attached to an NIL deal, essentially requiring a student-athlete to do an activity in order to receive compensation;
- That activity cannot be tied to athletic performance such as statistical achievements, wins, or awards;
- That activity cannot be contingent upon the student-athlete committing to the university that the collective supports or tied to enrollment; and
- Institutions do not provide compensation in exchange for the use of a student-athletes’s NIL.
NCAA rules also require student-athletes to follow their state law or institutional policy if there is no existing state law governing NIL activities.
An NIL activity involves the use of a student-athlete’s name, image, or likeness for promotional purposes by a third party not associated with the NCAA or an NCAA institution such as:
- Social media influencing and other promotions
- Personal appearances at businesses, conferences, camps, parties, TV ads, radio ads, print ads
- Endorsements of a third-party
- Student-athlete-run camps and private lessons
- Autographs
- Sale of student-athlete owned apparel and personal items
- Student-athlete run businesses
502Circle offers UofL student-athletes opportunities to engage in permissible NIL activities, including autograph signings, social media promotions, camps and clinics, charity events, special appearances, speaking engagements, product reviews/endorsements, commercials, and more.
All U of L student-athletes must follow the University of Louisville NIL Policy & Kentucky state NIL Laws. Specifically, there must be a quid-pro-quo between the student-athlete and an individual/business. NCAA rules prohibiting pay-for-play and impermissible inducements remain in effect.
Contributions
502Circle’s goal is to give 100% of the money contributed to student-athletes. 502Circle has received private donations to cover operational costs to ensure maximum revenue to the student-athletes.
Yes, you may indicate what sport your contribution benefits. For more information or questions, please contact us directly at give@502circle.com.
Memberships and smaller one-time contributions are placed in a general pool of funds.
Email us at give@502circle.com and a staff member will reach out to you directly.
No, 502Circle has received private donations to cover operational costs to ensure maximum revenue to the student-athletes.
Some contributions may be tax deductible. Please contact give@502circle.com for more information.
Contact member@502circle.com to start this process.
Student-Athletes
Yes, businesses and individuals can request specific NIL opportunities with certain student-athletes (e.g., appearance requests, autographs, etc.)
If you need assistance, please contact partner@502circle.com.
No, contracts are not exclusive. The University of Louisville student-athletes may have additional NIL opportunities with other companies.
No. 502Circle is dedicated to current University of Louisville student-athletes.