NiJaree Canady鈥檚 $1M NIL deal: Is Texas Tech a money maker?
LUBBOCK, Texas (BVM) 鈥� NiJaree Canady鈥檚 $1 million NIL deal from Texas Tech鈥檚 collective, The Matador Club, is the . This historic NIL offer significantly surpasses the previous national record of $175,000, according to The Athletic, citing a source familiar with negotiations.听
As the reigning USA Softball National Player of the Year, Canady鈥檚 decision to transfer from Stanford to Texas Tech is puzzling. Softball powerhouses such as Oklahoma and Texas were possible destinations, while hasn鈥檛 even made the NCAA tournament since 2019. To make sense of this, many believe the Red Raiders lured Canady with the highest financial bid.听
Here鈥檚 Canady鈥檚 $1,050,024 annual NIL deal from Texas Tech鈥檚 collective put into perspective.听
Texas Tech鈥檚 NIL听听
Texas Tech athletes reported $7,870,700 in earnings from NIL deals between July 1, 2021-June 30, 2023. Football led the way, of course, but (3% of the $7.9 million), per information obtained by The Dallas Morning News through a public records request. 听
Hopefully, Canady鈥檚 NIL deal doesn鈥檛 stir up envy in the locker room. The Matador Club aims to , but the organization needs more donor support.听
To be clear, The Matador Club is Texas Tech Athletics鈥� official NIL collective. The organization and directs the money toward the school鈥檚 athletes. , but cases like Canady鈥檚 are challenging that notion.听
Hypothetically, if wanted to donate millions of dollars to The Matador Club to help his alma mater attract top players with NIL, he could do so.听
Texas Tech鈥檚 NIL collective generates an estimated in funding (to be distributed across all sports) 鈥� ranking the Red Raiders at No. 37 nationwide, according to NIL-ncaa.com.听
Power 5 schools average $9.8 million in NIL funding annually. Texas鈥檚 NIL collective is expected to generate about $22.3 million, while OU鈥檚 is about $14.8 million.
Texas Tech鈥檚
Generally, money-making sports such as football and men鈥檚 basketball , per CBS Sports. In turn, Canady鈥檚 $1 million annual NIL deal appears ridiculous since Texas Tech softball isn鈥檛 even profitable.
In fiscal year 2023, Texas Tech athletics posted a record $146.8 million in total operating revenue, which included $1.4 million from softball. However, softball鈥檚 expenses totaled $2.5 million. As a result, while Texas Tech athletics profited $10.4 million, softball experienced a $1.1 million deficit.
But college softball is generally not a profitable sport. Sooners softball posted a $3.8 million deficit 鈥� despite winning their third consecutive championship title at the end of the FY2023 reporting year. Similarly, Longhorns softball faced a $2.3 million shortfall, and the list goes on.听
It鈥檚 difficult to determine whether Canady鈥檚 NIL deal is the most lucrative in Texas Tech athletics history. But for perspective, CBS Sports estimates that the market range for a quarterback in the transfer portal is between
One million dollars could be a 鈥渟mall鈥� price for the nation鈥檚 best softball player, as Canady could lead the Red Raiders to their best season in history.听
Texas Tech is already preparing for the hype surrounding the 2025 season. The school is offering , and fans can join the waitlist by paying a $20 non-refundable fee. In FY2023, Red Raiders softball brought in $91,000 in ticket sales, whereas football generated $11.7 million from tickets.听 听
