Reflections from Our Conversation with Chima: NIL & Wake Forest Athletics

FanPark, started by Wake Forest Baseball alumni Logan Harvey, came to be while Harvey was still a student-athlete at Wake

“This is a 40 year decision, not a four year decision” is the classic line I always tell recruits at football recruiting events. Less than two percent of all NCAA football players make it to the NFL, so this sales pitch works pretty well for the athletes that fit the mold of a school like Wake Forest. You play ACC football, get a top-30 degree and then have the world at your fingertips upon graduation whether it’s in the NFL Draft or a job on wall street. At least, it was, until NIL regulations come into the picture.

Given my proximity to the athletic department, I am going to focus this analysis on how I think NIL rules will specifically impact Wake Forest athletics as a result of our discussion with Chima. There are two main impacts, one negative and one positive, that I will focus on. First, the Wake Forest brand is not as strong as a lot of other schools and this will negatively  impact recruiting. However, the potential for athletes to be innovative and make a profit for things outside of athletics is a positive.

Looking at the recruiting side of things, Wake Forest is a small school within a major athletic conference. Is the potential there for greatness? Absolutely. Will it ever be on an Alabama or Clemson level? Probably not. Duke, for example, did a study that found that individual basketball players could have made over $1.3 million through branded social media posts in the 2019-20 season. Looking at sheer earning potential, you just likely will not profit as much at Wake Forest.

There is not enough money, resources, exposure, etc. to make a choice between Wake Forest and Alabama even remotely similar. Conference also becomes less of a draw as the school itself is what matters. If Memphis or UCF is consistently garnering a lot of national recognition, athletes that may have picked Wake so as to be in the ACC could go there and play for a G5 school instead.

On the other hand, while the level of athletic recognition and profit potential is not as big at Wake Forest, the opportunities in other realms are huge. Wake offers support for ventures outside of athletics. If an athlete wants to create branded apparel for purchase, for example, they could learn how to start up their business in the entrepreneurship center

Wake Forest Athletics has direct experience with this in the recent past with baseball alumni Logan Harvey and his company FanPark. Harvey was not allowed to be directly affiliated in any way until he was not playing Wake Forest Baseball. This inability to both claim and profit off of his business pigeonholed him as just a baseball player and he described how it “felt almost as a detriment to be an athlete trying to do this” to the Winston-Salem Journal. 

His story demonstrates the nuances to NIL regulations. It is not just the star quarterback getting branded Instagram content. Rather, it opens the door for all athletes to be involved in entrepreneurial ventures that they were not able to do before. Given that Wake Forest student athletes are involved with many different majors and organizations on campus, it is very likely that some unique ideas could come out of this new opportunity. 

At Wake Forest especially, sports like tennis, golf, soccer or field hockey consistently are ranked in the top of the nation in their respective sports. Now, these athletes can profit off of their personal brand through ventures like writing a book or making branded sweatshirts. 

So, while recruiting could take a downturn given the limited national exposure at Wake Forest, the potential other opportunities could be vast. It will truly be so interesting to see how the legislation actually works in practice for Wake Forest and the NCAA as a whole.