Edly, alongside NBA legend Kendrick Perkins, revealed the initiation of NILLY (www.nilly.us) today, a groundbreaking platform designed to help student-athletes leverage their name, image, and likeness (NIL) for quicker financial gains. This innovative platform offers a novel investment avenue for qualified investors and enthusiasts, enabling them to support their preferred college athletes and teams while engaging in potential future NIL profits.
Collaborating with Edly’s Chris Ricciardi, Perkins co-founded NILLY and will act as the face of the brand. Drawing from his own experience of bypassing college due to financial constraints, Perkins aims to spotlight NILLY’s benefits to student-athletes eager to tap into their NIL revenues sooner.
Perkins shared his personal journey, emphasizing how NIL opportunities during his high school years could have altered his path, allowing him to experience college basketball and support his family simultaneously. He stressed that while today’s athletes have potential for earnings, the pathway to monetize that potential isn’t always clear. NILLY seeks to provide the necessary framework, access, and education to guide student-athletes towards financial prosperity, offering a partnership model geared towards their success.
Student-athletes collaborating with NILLY will benefit from an initial licensing fee and subsequent NIL profits in return for granting NILLY the rights to their NIL. This agreement focuses solely on NIL revenue, safeguarding athletes’ earnings from their sport. Even in cases of injury or diminished NIL income, athletes retain their initial payment, adding a layer of financial security. Additionally, NILLY participants gain access to financial education and advice, ensuring they receive the majority of their NIL earnings throughout the contract.
NILLY not only facilitates easier access to NIL earnings for athletes but also introduces a unique investment opportunity in NIL rights for accredited investors. By purchasing NIL rights from athletes upfront and sharing subsequent revenues, NILLY creates a new financial model for athletes. Investments are managed by Edly Advisors LLC, an SEC-registered advisor, offering diversified portfolios of NIL contracts across various college sports.
Chris Ricciardi, NILLY’s Co-Founder and CEO, highlighted the shift NILLY brings to collegiate sports, emphasizing the platform’s role in guiding athletes through the complex NIL landscape. By providing upfront payments for NIL rights and connecting athletes with the investment community, NILLY aims to transform how athletes benefit from their sports careers.
Perkins received advisory services from Murray Capital Advisors, Inc. (MCAP) regarding this venture. MCAP’s CEO, Raymond Murray, noted Perkins’ dedication to supporting young athletes and predicted his influence and expertise would greatly benefit NILLY and its participants.
