As the head of Louisville’s official NIL (name, image, and likeness) collective, Dan Furman has overseen tens of millions of dollars in athlete payments, and he helped redefine how collectives, schools, and players operate in this new era of college athletics.
In this episode of Next Up with Adam Breneman, Dan shares how 502Circle started with just $12,000 in the bank and scaled into one of the most sophisticated and respected collectives in the country. He opens up about the realities of running seven-figure monthly payrolls, the daily chaos of the transfer portal, and why player negotiations now resemble professional free agency. From in-house battles over donor dollars to dealing with underqualified agents and “runners,” Dan lays out the messy, high-stakes truth behind the NIL headlines.
Adam and Dan also dive deep into the impact of the new revenue-sharing model and how the College Sports Commission is reshaping the rules of engagement, why storytelling and brand-building are now essential tools in recruiting and fundraising, and more.