Gone are the days where colleges and universities were the only entities profiting off of the celebrity of their student athletes. In 2024, an undergraduate star can command millions from any corporation for an endorsement under what is called a NIL (Name/Image/License) deal.
Under this provision, rising college senior Shedeur Sanders, the son of University of Colorado head coach Deion “Prime Time” Sanders, will earn a total of $4.6 million over the next 12 months, according to ON3, becoming the highest earning college student participating in the NIL program. He is on his way to building an impressive net worth.
How He’s Making Money
With a total of 2.5 million followers on social media and a #8 spot on the ESPN NCAA football quarterback ranking, he is one of the most sought after faces to promote a brand to young people.
In 2023, he secured endorsement deals with Google and Topps. However, 22-year-old’s contract with 5430 Alliance, signed in 2024, was the game changer.
The formation of the 5430 Alliance marks the consolidation of the Buffs4Life NIL collective, which served student-athletes across all sports, and the 5430 Foundation, with a dedicated focus on football athletes, according to a CU Athletics Press Release.
The primary objective of this amalgamation is to establish a streamlined NIL collective aimed at providing support to 350 Colorado student-athletes participating in all 11 sports programs.
ON3 notes that the founders of 5430 Alliance came up with the idea for the new company after the university hired Deion, the former MLB and NFL superstar, to lead the football team. Now as many as 300 students, with “a special emphasis on the football program,” will be able to participate in revenue earning opportunities by using their name, image, and likeness.
In addition to Shedeur’s NIL deals, he is an entrepreneur, capitalizing on his own popularity. On April 27, he hosted a pop-up retail event for his clothing brand SS2 Legendary at Peckish, a chicken wing restaurant on University Hill in Colorado.
For 90 minutes of the three-hour event, he shook hands, snapped selfies and signed autographs with his fans. One person had him sign his cheek, while another asked him to sign his bald head.
“One thing he understands is he has to touch base with the people. He has to deal with the people. He’s not just about social media. It’s about actually meeting people in real life and meeting your supporters,” said Sanders’ business partner Bam Hogue to USA Today Sports.
On that day, Shedeur sold about $15,000 worth of SS2 Legendary merchandise. Shirts were being sold for $40 ($60 for long sleeves). Hoodies and football jerseys cost $80. Trucker hats cost $40, and wristbands sold for $10.
In addition to bearing his logo ($2), the gear also features the school’s logo, possible because Shedeur and Hogue worked out a licensing deal with the school. For the use of the logo, CU will receive a 12 percent royalty.
Since his days at Jackson State, the HBCU where his father served as coach, Shedeur has been focused on building his personal brand. He did pop ups there, but he did not sell as much as his recent score.
Both Shedeur and his sister, Shelomi, transferred to CU, following in their father’s footsteps. However, basketball dynamics shifted recently, leading Shelomi to break away from the career path set by her father.
Shelomi: Her Own Woman
Without the support of Prime, she left her spot on the Colorado women’s basketball team to transfer to Alabama A&M to join the roster under the guidance of newly appointed head coach Dawn Thornton.
Her father, during an interview called the move “stupid.” However, her mother, Pilar Sanders, said this is an opportunity for her daughter to feel recruited and chart out her own lane.
