Entire Texas Tech Football Team Signed to One-Year, $25K Contracts
The Matador Club, a nonprofit group, signed each of the 100 players on the Texas Tech Red Raider football team to one-year, $25,000 contracts. The nonprofit is organized by a group of Texas Tech donors. The athletes are expected to do community service and charitable work in exchange for their compensation.
Today The Matador Club and the Texas Tech University football team made history.
— The Matador Club (@MatadorClubOrg) July 19, 2022
We signed the entire team with 5-Figure deals. The whole team. Walk-ons and starters.
Wreck 'Em! pic.twitter.com/fvc9hQA02F
“Statistics show that 85% of student-athletes with full-ride scholarships live in poverty,” The Matador Club’s website reads. “We want to help change that... We create avenues for Texas Tech student-athletes to make a positive impact with their name, image, and likeness (NIL). And our partnership with local organizations gives student-athletes meaningful NIL collaborations.”
In 2019, the NCAA voted to allow athletes to profit off their name, image, and likeness. The legislation allowed donor-funded collectives, such as the Matador Club, the ability to support college athletes through financial compensation.
Texas Tech is determined to position itself as the premier Big 12 football team once Texas and Oklahoma move on to the SEC. The university just announced a $200 million investment into its football program that will include a new south end zone at Jones AT&T Stadium and a new football development center.
The Matador Club and facility upgrades should attract more elite athletes to Lubbock.
The Red Raiders will kick off Year 1 under coach Joey McGuire on Sept. 3rd against Murray State.
You can find Michael Gresser on Twitter @gresser_michael
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