SWARM CEO Brad Heinrichs Interview. 20% of SWARM Beer SALES & 25% of Vodka SALES goes to SWARM. Says they need 10,000+ paying members; they're @ 1,800
- Thread starter Franisdaman
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Here is the story from the UI's website. Beth Goetz is all in.
SEPTEMBER 21, 2023
SWARM COLLECTIVE TO OFFER NIL OPPORTUNITIES FOR ALL HAWKEYE STUDENT-ATHLETES
IOWA CITY, Iowa — Hawkeye fans can now support NIL activities for student-athletes on all 22 Hawkeye athletic teams through the Swarm Collective.
Individuals who make a one-time gift of $1,000 or more, or commit to monthly gifts of $100 or more, will be able to direct their NIL support to any of the Hawkeye athletic programs.
“Brad’s leadership of the Swarm Collective, with the support of Scott and Jayne, has been incredible. We truly appreciate those who have contributed to the Swarm Collective and are excited about the opportunity for all Hawkeye student-athletes to benefit from NIL,” Goetz added.
The Swarm Collective is led by Brad Heinrichs, CEO; Scott Brickman, Executive Director/COO; and Jayne Oswald, Vice President of Events and Engagement.
“NIL is a wonderful tool that provides student-athletes with opportunities to build and enhance their personal brand while also serving local charities and nonprofits.” said Heinrichs. “We are thrilled to be able to expand this opportunity to athletes in all 22 Hawkeye sports programs at Iowa and continue to contribute to their success on and off the field of play.”
The Swarm Collective has participated with over 40 nonprofit organizations in their first year totaling nearly 1,200 in student-athlete hours of service.
To provide support, or learn more about the Swarm Collective, visit iowaswarm.com.
Well now I read it as that they can now accept specific donations for $1,000 for all sports. So I assume the general fund (I.e. Swarm memberships, sponsorships, strategic partnerships) is not distributed to all programs, still only allocated to football, men’s bb, women’s bb?
Let’s hope. Would love to get clarification.
U of I AD posted this on Facebook today
𝐔𝐧𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲 𝐨𝐟 𝐈𝐨𝐰𝐚 𝐍𝐈𝐋 𝐒𝐭𝐨𝐫𝐞 ✍️
The University of Iowa NIL Store, powered by Campus Ink, is coming soon! It will provide officially licensed merchandising opportunities and industry-leading payouts to every Hawkeye student-athlete.
More info ➡️ http://spr.ly/6182uBDLi
#Hawkeyes
𝐔𝐧𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲 𝐨𝐟 𝐈𝐨𝐰𝐚 𝐍𝐈𝐋 𝐒𝐭𝐨𝐫𝐞 ✍️
The University of Iowa NIL Store, powered by Campus Ink, is coming soon! It will provide officially licensed merchandising opportunities and industry-leading payouts to every Hawkeye student-athlete.
More info ➡️ http://spr.ly/6182uBDLi
#Hawkeyes
The way I understand it is there are 2 arms (or buckets of money):
1) SWARM Inc -- where the big deals get handed out to players like McNamara, All, etc. As we know, all of the money so far has been used to acquire football talent. This money comes from Bill Moon (Iowa 80 Truck Stop), Summit Ag Group, Mid-States Millright & Builders and Dale Howard Auto Center. There probably are others.
2) SWARM collective--where any student athlete from football, MBB or WBB who volunteers gets paid.
Now, however, a donation of $1,000 or more OR $100 or more per month can be designated to any sport you want. I am guessing these funds are placed in bucket #2. So, if a person donates to women's swimming, those lady swimmers can now get paid by those funds when they volunteer.
I also heard that the beer/vodka money is going into bucket #2 (but only for football, MBB, WBB).
Also, the money from SWARM members (those paying less than $100/month) goes into bucket #2 as well, IIRC.
@Tx_Hawk hopefully will clear this up.
Thanks. Was mostly interested in the Swarm beer. Hoping that still just goes to football, MBB, WBB. I like that the change gives people the option to donate to other sports but don’t want the change to take from the sports people care about.
Click on hawkeyesports.com in the tweet below to take you to the story from the UI's website.
Personally, I was hoping that some of the SWARM beer proceeds could be earmarked for Men's basketball (maybe it will, eventually). It's well documented that we have lost out on 4 star high school kids and highly ranked transfer prospects simply because Fran got outbid.
@Tx_Hawk hopefully can clear things up.
The only way this happens is if we pass state legislation allowing it like in other states.
Swarm water is in the way. Debating the soda thing…
Yes…the stuff you get with a membership is considered de minimus for tax purposes (by the accountant who works for us, anyway). So you will get a tax receipt for the entire amount at the end of the year.
This is correct. Nothing about this hurts football, basketball, or women’s basketball. It helps the minor sports to have a platform for NIL, but our focus continues to be on the Big 3. It also helps Iowa athletics to be able to support us more since we are now Title IX compliant!
This is a fairly good synopsis. The Olympic sports won’t affect the big 3. The Inc is where the studs get paid extra but the collective is the “base pay” if you will….
Will there be a guaranteed base pay for the Olympic sports, or will it be based on the specific donations that come in earmarked for those specific sports?
I appreciate you coming on and answering all these questions!
Swarm beer, vodka and (soon to be) water only goes to the big 3.
Honestly, the revelation yesterday just allows those other sports onto our platform. If somebody wants to donate $25k to women’s rowing, they can now do so and get a tax deduction. We will pay out $22,500 to the girls for doing charity work. The 10% is withheld for expenses associated with general operations and legal fees for the contracts.
They do not get to share in the wealth of the general donations by the masses or proceeds from beer/vodka/etc.
Nope. The only base pay they will get is if they have a donor(s) who specifically want(s) to fund them as such. Otherwise it will be one-off revenues.
I think baseball may be the biggest beneficiary of this.
I should also mention…if somebody wanted to say, specifically sponsor Brody Brecht, for example, they can do so through Swarm Inc.
At this point, the infrastructure is there to be able to do whatever we want.
Now we just need money….
thank you for taking the time to clear up people's questions....
Brad,
As discussed above, there are 2 arms (or buckets of money). Which bucket do the funds from the alcohol go to? There's been hope that it might go in the SWARM Inc bucket to help Fran land a stud high school player or a stud from the transfer portal. Thoughts on that?
The 2 buckets:
1) SWARM Inc -- where the big deals get handed out to players like McNamara, All, etc. As we know, all of the money so far has been used to acquire football talent. This money comes from Bill Moon (Iowa 80 Truck Stop), Summit Ag Group, Mid-States Millright & Builders and Dale Howard Auto Center. There probably are others.
2) SWARM collective--where any student athlete from football, MBB or WBB who volunteers gets paid.
Alcohol money goes to the Collective. I allow Exile to choose where the money goes (just like anybody else who contributes $1000+), and that is their choice. The donors decide where the money goes.
Beth Goetz it.
Check this out, where the UI Athletic Dept is bringing Altius Sports Partners personnel in-house to lead the FLIGHT program/NIL operations.
Check this out, where the UI Athletic Dept is bringing Altius Sports Partners personnel in-house to lead the FLIGHT program/NIL operations.
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This is really cool, but they need to make it so you can get some of the merch without any player’s name on it, with the proceeds still benefiting the athletes’ NIL in a collective manner of some sort.
It looks like this is this the university’s project, not the Swarm? Is this correct, @Tx_Hawk ?
Too bad they couldn't designate part of the ticket/parking/concession game per game or something to SWARM. Or Brad has a staff working and peddling SWARM signs and donation boxes around Kinnick! 2,800 seems very low when 70,000 show up for home games, yet I get it, it's another place to donate and spend money and they are scaling their marketing efforts and SWARM soda, water and travel packages are in the works.
Great job by Brad.
Love the clown and bugeater fans who called him a grifter.
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