Georgia NIL: Classic City Collective, Truist team up for financial partnership
Georgia’s Classic City Collective added financial partner Truist to the fold for the 2022-23 seasons. An announcement details Truist as the collective’s “official bank and official wealth advisor.”
Truist will provide each of Georgia’s 21 varsity sports teams with access to financial education and information on wealth management “by the end of 2022.”
Obviously, the NIL collective wave is new for everyone. Classic City’s partnership with Truist furthers the collective’s push for a “sustainable and responsible future” in this space.
With On3’s valuation of multiple Georgia football stars in high-six-figure territory, you can imagine that athletes with little to no financial planning experience might need some help.
Also, remember when you were 17, 18, 19, 20 years old. If you’re honest with yourself, you would need help with your money, too.
Now, imagine how much help you would need with that kind of NIL money.
The future of Classic City Collective and Georgia’s NIL atmosphere
Classic City Collective CEO Matt Hibbs shared part of his vision for the partnership.
“This partnership will help us achieve our bold long-term goals and build a platform that will give student athletes at the University of Georgia the tools they need to achieve greater economic success through NIL,” Hibbs said in a statement.
Former Georgia football player and Classic City Collective John Staton shared his sentiments on social media as well.
Truist shares excitement in partnership with Georgia NIL efforts
Before this, Hibbs worked on Georgia’s compliance staff. He has years of experience in college athletics.
With that understanding between them, Georgia Head Coach Kirby Smart is on the record with his support for the collective’s CEO.
Now, all that hangs in the balance is keeping Georgia competitive in this NIL circus. Smart shared support for the partnership on Twitter.
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A co-sign from the ball coach usually goes a long way with fans.
Still, people don’t always appreciate change.
As of today, NIL momentum is just one of about a thousand changes that affect how traditional fans view the sport right now.
Truist’s people weighed in on their side of the deal. Apparently, they’re fired up about it.
“By partnering with Classic City Collective to offer financial education and advice, Truist Wealth is inspiring student athletes to make intentional decisions about saving, spending and investing that can help them build long-term success,” Truist Wealth SVP Bobby Schuckmann said.
It’s one thing for Kirby Smart to pitch recruits on long-term financial success
If you get picked in the NFL Draft, you’re more likely to realize that generational wealth. Plus, if you play football at Georgia, you have a pretty good shot at both.
This is big for those non-NFL Draft picks who still realize some NIL success, in football and in other sports.
In Athens, Georgia’s NIL collective doesn’t want to react to each change. It also doesn’t want to set trends for the wrong reasons.
The splashiest NIL deals and inducements will still happen around the country. Of course, they’ll dominate the headlines more than this does.
Clearly, this headline isn’t as jaw-dropping as a Lamborghini or a seven-figure inducement. It’s a comparatively small, but important step.
I think Kirby Smart’s ok with that.
Ultimately, that’s all that matters around these parts.
