Lole also said he was entering the transfer portal due to NIL reasons but could return to Tempe. He could demand up to a six-figure deal, Sun Devil Source’s Chris Karpman reported.
The new entity, which will have at least six founding members and allow for up to 15 board seats, is anticipated to apply to the IRS for non-profit 501(3)(c) status in May. The board’s current composition includes expertise in marketing, sports law, financial and tax advisory and non-profit operations. It has already received commitments totaling several hundred thousand dollars, with a goal of at least a million dollars pledged by launch and multiple millions of dollars derived from benefactors on an annual basis.
The money will be used mostly on the football and basketball team to keep the premier players in Tempe. There is a chance to use funding toward unsigned recruits as well.
Members of the Sun Devil athletic department have been in contact with the collective and have “expressed support, generally, for their agenda,” Karpman wrote.
Good for them SC needs a challenge
A day late, and a dollar short. sc