New partnership to help student athletes build their brand
ALBUQUERQUE, N.M. – Athletes can now legally market themselves, build their brand, and benefit from their name. Now, the Lobos are diving head first into all of it with a new partnership.
“Well 505 SVF is a New Mexico not for profit corporation that seeks to help student athletes in four year colleges, in the state of New Mexico, to monetize their name, image and likeness,” said Kurt Roth, founder of 505 Sports Venture Foundation.
505 Sports Venture Foundation recently publicly partnered with UNM’s Athletic Department to help college athletes promote their brands. Think of them as a sort of hybrid agency, they give guidance and help athletes navigate this new space. They also act as a NIL deal within itself.
With different little shows and segments the foundation is working with college athletes to promote and build their brand. But why is this so important to the athletes themselves?
Well we asked a few athletes who are partnered with 505 Venture Foundation to get a better idea.
“It’s great for the student athletes to have an opportunity to make money and just build a brand, and name for themselves before they get to that professional level,” said Lobo men’s basketball player Jamal Mashburn Jr.
“This being a mid-major school like all the complex schools, get like the good and NIL deals, so it’s good that they’re paying attention to us and like, making sure we’re like valued,” said Lobo women’s basketball player Amaya Brown Lauren.
And while athletes are busy concentrating on the season.
“I’ve just been really just focusing on the court and focusing on winning these games,” said Mashburn Jr.
That’s another way this foundation helps out, by being an extra hand while athletes continue to focus on their craft. Right now in its infancy, this collective is only signed with the UNM men’s and women’s basketball teams.
“We have arranged with certain athletes, I believe we’re at 25 now at UNM, where they contract with us to allow us to use their name, image and likeness,” said Roth.
But the vision is much bigger for founder Roth.
“My goal is to have an NIL deal with every student athlete at UNM and our fundraising goal by spring of 2024 is $3.5 million,” said Roth.