PC Basketball NIL Group to Pay In Excess of $1M in Payments to Players

PC Basketball NIL Group to Pay In Excess of $1M in Payments to Players

If you see fancy and expensive cars driving around the Providence College (PC) campus this year, there is a good chance they belong to men’s basketball team players.  PC Athletic Director Steve Napolillo has told GoLocal the combined revenue paid to the men’s basketball team from name, image, and likeness (NIL) money will exceed $1 million this year.  This money is in addition to the $83,000 annual scholarships players receive.

PC basketball players are making money because they are on the basketball team.  However, the school is not paying them.  An independent third party is.  Six months after payments for NIL to college athletes became legal, supporters of Providence College Athletics established an independent organization whose mission is to raise money and funnel it to athletes.  It is called the Friar Family Collective (Collective), https://friarfamilynil.com/.

An illustrative example is if a basketball player gives a five-minute speech at a corporate event, the Collective will deposit a $10,000 check into his bank account.  The Collective will ensure that there is a picture of the player at the event for the compliance file.  The Collective will also help the player with documentation for taxes.

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In only the second year of its existence, NIL money has already ramped up to astounding levels. Providence has exceeded the million-dollar level even though the school may have walked away from some recruits.  Napolillo stated, “If a recruit’s biggest concern is the size of their check, we tell them PC is not for you.”  Napolillo continued: “We have built something special here at PC, and we have done it in the right way.  We have all the elements in place to have a successful program.”

Napolillo also admits PC could not field a competitive team without players receiving substantial NIL money.

Here is how it is supposed to work.  Colleges and Universities cannot guarantee or promise a recruit how much they will receive in NIL money.  The NCAA prohibits those conversations and firm commitments.  Coaches can tell a recruit what the Collective has done for other players with similar skills.  Projected stars have received a particular range.  Role players have received a lower amount.     

Once again, the NCAA appears to have its head in the sand.  They are attempting to regulate private conversations between two parties, both having a vested interest in the outcome.  There is no doubt PC follows the rules, as they have consistently run an ethical and forthright athletic program.  There is also no doubt most schools are not following these rules.  It’s telling the new joke associated with paying players is NIL stands for, “Now it’s Legal.”  For decades, the NCAA attempted to prohibit payments to athletes. That was an unattainable goal.  The NCAA will not give up trying to enforce the unenforceable.  They have put in place a scenario where, in many cases, a high school athlete’s initial encounter with a college is learning how to circumvent or break the rules.  That’s just wonderful.  It is now legal to pay players, and that will never change.  The horse is out of the barn and running free.  The NCAA is chasing after the horse, trying to put fences around it.  They will never be able to keep up.

The rules and regulations around NIL are in a state of flux.  The NCAA has an “Interim NIL Policy,” which is evolving.  Thirty-two states have passed NIL laws.  Rhode Island is not one of them.  Athletic programs must operate very carefully and fear violations stemming from a new interpretation of these new rules or laws.  Napolillo hopes for federal legislation to standardize the rules and, in his words, “To get a more even playing field.”

Michael Ferranti is the CEO of the Friar Family Collective, and Brain Catinella is the General Manager.  Three other staff assist them, and everyone involved works on a part-time basis.   80% of the revenue raised goes to athletes, 15% is for the Collective’s operating expenses, and 5% goes to consulting entities that assist with endorsement deals, compensation to athletes, compliance, and taxes.   The Friar Family Collective is a for-profit entity.  Therefore, contributions to the Collective are not tax deductible, and information disclosure is limited.  The Collective would not disclose its operating budget.

PC has officially endorsed the Friar Family Collective.  The endorsement allows the Collective to use the Friar logo and other PC brand graphic elements.  In an interview, Ferranti and Catinella stressed they do not contact or speak to any prospective athlete until they have officially enrolled at PC.  Once that happens, they work directly with the athlete to set up paid appearances, endorsement deals, and other activities that generate revenue streams for the athlete.   Players can only receive NIL money by performing a service or engaging in an activity associated with the payment.

The Collective also raises money to support itself and to pay athletes.  Supporters can make individual donations, subscribe to make monthly contributions, or purchase merchandise at the Collective’s online store.   

Ferranti said things have gone well during the past year, and people have become more aware of the collective.  He stated, “Education remains a huge component of our mission.”

Both Ferranti and Catinella believe PC cannot field a competitive team without players getting NIL money.  Catinella further said he believes, “Maximizing NIL money is top of mind for college athletes.”

Ferranti and Catinella are concerned about what they describe as, “The ever-changing landscape for NIL.”   They stated, “We have taken a conservative approach as it is really hard to know what NIL will look like going forward.”

James Malachowski is the former Chairman/Managing Partner at RDW Group. He previously served as the chair of the Public Utilities Commission.