Sacramento State Raised $35 Million in One Day for Its NIL Collective

A group of local politicians and community leaders in Sacramento, dubbed the “Sac-12,” announced Monday it had raised $35 million in NIL (name, image, and likeness) funds for the university in just a 24-hour period. 

The group formed in September to help Sacramento State earn a bid from an FBS conference, setting its sights on the Pac-12 or Mountain West. The NIL fundraiser is one of several projects the organization, as well as the university, is embarking on to ready Sacramento State for the next level.

The Sac-12 has not specified whether it has amassed the funds, or if they’re just commitments at this point; they used the word “secured” in a formal statement. 

If the funds do come through, the $35 million NIL war chest would be an eye-popping number for any school, let alone an FCS program. The group did not specify who, exactly, made these lofty promises, saying only that they came from “local business and community leaders and a local tribe.”

“The $35 million we have secured over the last 24 hours demonstrates the civic and business commitment of all of those in the greater Sacramento region to this effort, an effort we know will pay great dividends to the university’s athletes and students, as well as Hornet fans and businesses across Sacramento,” SAC-12 co-chair Josh Wood said. Ultimately, the group hopes to raise $50 million in NIL funds. 

NIL funding isn’t a requirement for a school to move from FCS to FBS, though it undoubtedly helps with recruiting. There is a formal transition process required by the NCAA: To start, the school must receive a bid from an FBS conference and submit an application to the NCAA, which includes $5 million for an application fee. Then, the school must meet a list of requirements over a two-year transition period before it can join its new conference, like a new football stadium. (The Hornets announced last week they raised money to build a new, 25,000-seat football stadium and a new basketball arena.)

The formal push to the FBS level was set in motion by a seismic wave of conference realignment that began just a few weeks ago. The two-member Pac-12 announced it would add four Mountain West schools: Boise State, San Diego State, Colorado State, and Fresno State. Because the conference needed three more members to maintain its FBS status, and the Mountain West needed replacement members, the Sac-12 leaders saw an opportunity. (Since then, Utah State and Gonzaga have agreed to join the Pac-12, while UTEP has agreed to join the Mountain West.)

It’s unclear whether either conference will extend a bid to Sacramento State despite all its efforts, however. The Pac-12, for its part, has reportedly paused expansion negotiations as of Wednesday.