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.
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SOURCE NILLY