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5 hours ago
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West Virginia has launched Gold & Blue Enterprises.
The organization is designed to strengthen NIL, generate new revenue, and support student-athletes in a changing college sports landscape.
It is not in the athletic department but is managed by it as a separate 501(c)(3) according to West Virginia Director of Athletics Wren Baker.
“That 501(c)(3) will own an LLC, a commercial entity. And it really is to set us up for the future of college athletics,” Baker said in a special conversation with Tony Caridi.
West Virginia knows that they have to grow revenue in a variety of ways, whether that is trying to recruit more outside events, developing some type of entertainment district, trying to license the athletic department’s name, image and license to restaurants or drinks.
“Whatever the case may be, you know I think it’s really important that we have the adaptability and malleability to move quickly to capture those revenues,” he said.
Higher education is often steeped in tradition and sometimes isn’t as quick to react. While the current WVU foundation does a great job they are focused on raising and investing money. This organization will have a different focus.
“We really need an organization that can move at the speed of light and move at the speed of current trends,” Baker said.
There will also be some other advantages of the organization as the Mountaineers will be paying student athletes out of it so they don’t have many of the employment-type restrictions that an institution would have.
“You know you don’t have open records like you might have if we were paying through here and everybody in the country can see what you’re paying every single player and make counter offers,” Baker said.
“So it gives us a lot of different freedom and flexibilities, some of which we will take advantage of now but some it’s more setting us up for a future where I anticipate lots and lots of commercial growth and commercial opportunities.”
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