Here’s the press release from the 502 Circle folks:
The University of Louisville’s athletics program has a history of success. The school’s alumni and devoted fans continue to support the U of L student-athletes yearly. There is no question that college sports are a significant business in our community.
502Circle, an independent Name Image Likeness (NIL) Collective, has been established to provide opportunities for U of L student-athletes to maximize their NIL based on their hard-earned success. The platform will officially launch on Monday, August 29, and has been created as a wholly unique and cutting-edge NIL Collective, incorporating best-in-class technology. 502Circle will be operated in compliance with state NIL laws and NCAA rules. It will make it easy for supporters to become involved financially, thus translating to monetary gains for UofL student-athletes.
Founded by Marc Spiegel, a Technology Entrepreneur and University of Louisville alumnus, along with a select group of University of Louisville alumni and fans, 502Circle is all about the UofL community and its support for the student-athletes. Spiegel states, “We know that most major schools have organizations like 502Circle in place, so it’s important for the Louisville community to have a similar outlet for support. 502Circle will utilize the latest technology to engage UofL athletics supporters, businesses, and charitable organizations. We’re creating a digital experience that can only enhance supporters’ involvement and translate into value for everyone involved.”
NIL provides college student-athletes the opportunity to earn money off their “name, image, and likeness” and was instituted on July 1, 2021. This policy allows thousands of student-athletes to monetize their NIL, a seismic shift for college sports and its players.
502Circle is committed to a sustainable model based on a solid foundation of doing things the right way. Spiegel notes, “We want being in the ‘Circle’ to mean something special. We aren’t solely focused on large money donors but want to ensure we engage every supporter. We know that begins with creating a brand that people want to associate themselves with.”
He adds, “All of us who are part of the Collective are consummate supporters of the University of Louisville. The community has certainly felt the upward momentum. The timing couldn’t be better for our August launch date.”
To schedule an interview with Marc Spiegel, please contact Erin Jones at 502.774.0767 or email email@example.com.
Founded by a dedicated group of University of Louisville alumni and fans, 502Circle is an independent NIL Collective, a digital platform connecting supporters, businesses, and charitable organizations with U of L student-athletes to enable them to monetize their names, images, and likenesses.
Companies who wish to get involved with 502Circle should contact firstname.lastname@example.org, while UofL supporters and alumni who want to support the Collective financially should contact email@example.com.